The Orissa Backward Classes Finance & development Co-operative Corporation was established during the year 1994-95 being registered under the Orissa Co-operative Societies Act-1962 with an aim to provide financial assistance to the people belonging to Socially and Educationally Backward Classes (SEBC) and minorities under various income-generating schemes. OBCFDCC is a co-operative institution under administrative control of ST & SC Dev. & M&BCW Deptt. Govt. of Orissa, which is, engaged in promoting economic development of OBC & Minority people living below the poverty line.
The OBCFDCC is functioning as State Channelising Agency (SCA) for implementing various loan schemes of NBCFDC and NMDFC for Backward Classes Communities of the state belonging to OBC and Minority Communities. These welfare oriented schemes mainly designed to uplift the poor people of both the communities living below the poverty line and double the poverty line.
National Backward Classes Finance Development Corporation (NBCFDC) is a Govt. of India under taking organization which is a company, not for profit, with an objective to promote economic and developmental activities for the benefit of Backward Classes in skill development and self employment venture through State Channelsing Agency (SCA) i.e. OBCFDCC nominated by State Govt.
Funds are received from NBCFDC for various welfare oriented schemes and skill development and to assist the poor section of these classes for self employment ventures under following broad section viz- (i) Agriculture, (ii) Small Business / Artisan / Traditional occupation (iii) Service Sector (iv) Transport, (v) Education, under Term Loan, Micro Finance, New Swarnima and Education scheme. There is no provision of subsidy under various schemes of loan to the beneficiaries.
OBCFDCC is declared by the State Govt. vide M&BCW Deptt. Office Order No.36/ Dt.16.01.2007 as the new State Channeling Agency of National Minority Development Finance Corporation (NMDFC) to implement the development programmes of minority communities of the state. Previously Orissa ST & SC Dev. & Finance Co-op. Corporation (OSFDC) was the State Channelising Agency of NMDFC for the minority community.
Various welfare-oriented schemes for the minorities are implemented in Orissa since 1998-99. The communities covered under minority are Muslim, Christian, Sikh, Buddhist and Parsies. The Minority population in Orissa is 16,87,201, which is 4.58% of total population.