The Bihar State Minorities Financial Corporation (BSMFC) was incorporated on 23rd March 1984.It is a Government Company sponsored by Bihar State Government within the meaning of section 617 of the Companies Act, 1956. It works for the benefit of Minorities as defined under the national Commission for Minorities Act 1992. The prime mandate of BSMFC is to provide concessional finance to the Minorities for self-employment/ income generation activities education and Skill development. As per the National Commission for Minorities Act, 1992, the notified Minorities are Muslims, Christians, Sikhs, Buddhists & Parsis. Subsequently Jain community was also added into the list of notified Minority Communities in January 2014.