CURRENT AFFAIRS

Detailed explanation-1: -The Pravasi pension scheme is a retirement program set up by the Kerala government to help Keralites that have gone outside the state for employment. It is the first of its kind in India and the scheme is specifically designed for Non-Resident Keralites who intend to settle back in Kerala in retirement.

Detailed explanation-2: -Pravasi dividend scheme is the non-resident Keralite welfare scheme, which will get regular monthly dividend. It is a Kerala government scheme for non-resident Keralites. The aim of this scheme is to utilize Pravasi investments in a meaningful way and improve it.

Detailed explanation-3: -Pravasi pension scheme is a post-retirement pension program of Kerala Government to help people of Kerala who moved outside the state for employment. The scheme is exclusively designed to provide stability and security for middle to low-income Non-Resident Keralites (NRKs) who intend to settle back in Kerala.

Detailed explanation-4: -Those who remit continuous contribution towards the Kerala Pravasi Welfare scheme up till the age of 60 are eligible to receive a monthly pension of Rs. 2,000/- after the age of retirement. Form 1B needs to be filed to benefit from the scheme under this category.

Detailed explanation-5: -The Pravasi Dividend Pension Scheme has been launched by Kerala government that will give pension to Kerala NRIs. According to this scheme, the NRI will be able to avail the pension scheme. For this, they have to make a one-time payment of rupees 5 lakh.