Kerala Financial Corporation (KFC) is a government owned non-banking financial company

Non-banking financial company

Non-bank financial companies are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. These institutions are not allowed to take deposits from the public. Nonetheless, all operations of these...

 in the state of Kerala

Kerala

or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....

, India. The company was formulated by the State Financial Corporations Act of 1951 passed by the Kerala Legislative Assembly

Kerala Legislative Assembly

The Kerala Legislative Assembly more popularly known as Niyamasabha , is the law making body of Kerala, one of the 28 States in India. The Assembly is formed by 140 elected representatives and one nominated member from the Anglo-Indian community...

 to accelerate the industrial growth of the state of Kerala

Kerala

or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....

. The corporation was formally founded later, in 1953, as the Travancore Cochin Financial Corporation which was later, in 1956, renamed to Kerala Financial Corporation, following the state's reorganization.