Odisha State Financial Corporation

Odisha State Financial Corporation (OSFC), formerly known as Orissa State Financial Corporation, is a state financial corporation serving businesses in the Indian state of Odisha. It was established in 1956 under the State Financial Corporations Act, 1951, a legal framework created to expand institutional finance for industrial and commercial development at the state level. Its mandate was subsequently affected by the State Financial Corporations (Amendment) Act, 2000. The corporation's principal role is to provide loan assistance to micro, small and medium enterprises. In this capacity, it has functioned as a public-sector financing channel for businesses that may require term lending and development-oriented credit support. Its activities are linked to Odisha's industrial and enterprise-development objectives rather than to consumer banking or nationwide commercial banking. The available reference material identifies the corporation primarily through this statutory lending mandate and does not provide a detailed current breakdown of its loan products, branch network, leadership, or sector portfolio. The institution's name changed from Orissa State Financial Corporation to Odisha State Financial Corporation following the state's official renaming from Orissa to Odisha. The former name remains a relevant historical alias because it appears in earlier descriptions and records. OSFC operates within the broader framework of Odisha's state public sector enterprises. Under memoranda of understanding applicable to such enterprises, annual dividends are to be paid to the state government. The available material also reports that the corporation incurred losses at the end of March 2023, indicating financial pressure in its recent operating history. OSFC is therefore best understood as a regional public development-finance institution rather than a conventional consumer-facing financial-services brand. Its public purpose is centered on improving access to finance for micro, small and medium enterprises in Odisha. The supplied sources do not establish a broader geographic footprint, a privately held parent, stock-exchange listing, named founder, or current executive roster. Additional official records would be required to document its present product range, financial condition, leadership, institutional reforms, and operating scale in greater detail.

Odisha State Financial Corporation was established in 1956 under the State Financial Corporations Act, 1951. The legislation provided a statutory basis for state-level financial corporations intended to support industrial and commercial development through institutional credit. OSFC was created to serve businesses in the territory now known as Odisha, with a particular emphasis on providing financial assistance to smaller enterprises. The corporation was originally known as Orissa State Financial Corporation. Its later name reflects the official change from Orissa to Odisha and does not represent a change into a different institution. The historical name remains useful when tracing older documents and references. The corporation's institutional framework was also connected with the State Financial Corporations (Amendment) Act, 2000, which amended the governing statutory regime for state financial corporations. OSFC's central public purpose has been the provision of loan assistance to micro, small and medium enterprises. This places it within India's state-supported development-finance system, where public institutions have historically been used to improve access to capital for enterprises that may not be adequately served by ordinary commercial lending. The available material does not specify the full range of financing instruments, eligibility rules, sectors served, or the number and location of branches, so those aspects cannot be described reliably here. In the governance context of Odisha's state public sector enterprises, memoranda of understanding provide that annual dividends of such enterprises should be paid to the state government. The available reference material further records that OSFC incurred losses at the end of March 2023. No amount, cause, restructuring plan, or subsequent result is supplied. Consequently, the recent financial position can be characterized only as having included a reported loss at that date, rather than through a more detailed assessment. OSFC remains identified as a state financial corporation of Odisha whose defining institutional role is enterprise finance, especially for micro, small and medium enterprises. More extensive documentation from the corporation or the Government of Odisha would be needed to establish its current management, financial performance, lending programs, branch operations, and recent strategic decisions.

• 2023

  Loss reported for the year ending March 2023

  [1]Odisha State Financial Corporationen.wikipedia.org

  Reference material reports that the corporation incurred losses at the end of March 2023.

• 2000

  Statutory framework amended

  [1]Odisha State Financial Corporationen.wikipedia.org

  The State Financial Corporations (Amendment) Act, 2000 formed part of the legal framework governing the corporation and similar state financial corporations.

• 1956

  Establishment under state financial-corporation legislation

  [1]Odisha State Financial Corporationen.wikipedia.org

  The institution was established as Orissa State Financial Corporation under the State Financial Corporations Act, 1951, to provide state-level financial assistance to enterprises.

• Renamed Odisha State Financial Corporation

  [1]Odisha State Financial Corporationen.wikipedia.org

  The corporation adopted the Odisha name after the state changed its official name from Orissa to Odisha.

A state-owned, regional development-finance institution focused on extending credit assistance to micro, small and medium enterprises in Odisha.

• Business finance · 1956

  MSME loan assistance

  Loan assistance for micro, small and medium enterprises is the corporation's stated principal activity. This offering reflects OSFC's statutory development-finance role and its focus on improving access to institutional credit for smaller businesses in Odisha. The available sources do not specify individual loan schemes, interest rates, collateral requirements, repayment terms, or sector-specific programs.

• 2023

  Odisha State Financial Corporation reported losses at the end of March 2023[1]Odisha State Financial Corporationen.wikipedia.org

  Other

  Reference material states that Odisha State Financial Corporation incurred losses at the end of March 2023. No loss amount or further financial detail is provided.

1. 1Odisha State Financial Corporationen.wikipedia.org