The Kerala Financial Corporation (KFC) has chosen nearly 3,300 youths for financial assistance under the Kerala State Entrepreneur Development Mission launched in November 2011.
At a press conference here on Wednesday, Chairman and Managing Director P. Joy Oommen said that around 165 of them had already started commercial operations.
The mission was a crucial component of KFC which had diversified its activities in the State, he said. All applicants had to clear an interview and undergo a training programme before loans of up to Rs.20 lakh was sanctioned.
Loan under this scheme is interest-free and need to be repaid over a period of five years.
More publicity regarding the programme, a slew of workshops and entrepreneur meets, launch of new welfare schemes, and corporate social responsibility (CSR) initiatives will mark the year-long diamond jubilee celebrations of KFC.
Governor Nikhil Kumar will inaugurate the event at Kanakakunnu Palace here on Thursday. Finance Minister K.M. Mani will preside.
The KFC recorded its highest profit during the last financial year, Mr. Oommen said.