West Bengal Financial Corporation (WBFC)
West Bengal Financial Corporation (WBFC) is a state-level financial institution set up on 1 March 1954 under the State Financial Corporations Act, 1951, and administered by the Finance Department, Government of West Bengal. It provides long-term loans to industrial units in the state. A Calcutta High Court judgment dated 11 August 2025 dismissed review applications in RVWO 27 of 2024 (WBFC v Efcalon) and RVWO 7 of 2025 (Efcalon v WBFC) concerning the parties’ equal sharing of stamp duty on an MOU connected to DRT recovery proceeds.
This page is a factual profile built from official sources: enterprise filings, the DPE Public Enterprises Survey, PIB releases, government orders and CAG reports. Figures carry their year; where no official figure was found, the field is left out rather than estimated.
How we verify →West Bengal Financial Corporation (WBFC) is a state-level financial institution set up on 1 March 1954 under the State Financial Corporations Act, 1951, and administered by the Finance Department, Government of West Bengal. It provides long-term loans to industrial units in the state. A Calcutta High Court judgment dated 11 August 2025 dismissed review applications in RVWO 27 of 2024 (WBFC v Efcalon) and RVWO 7 of 2025 (Efcalon v WBFC) concerning the parties’ equal sharing of stamp duty on an MOU connected to DRT recovery proceeds.
What happened
The West Bengal Finance Department’s 2017–18 administrative report says WBFC was set up on 1 March 1954 under the State Financial Corporations Act, 1951, was under the Finance Department’s administrative control, and provided long-term loans to industrial units in West Bengal. It places the head office at Bidhannagar, Kolkata, and says the Managing Director was appointed by the State Government.
The same report gives shareholding as of 31 March 2018: State Government ₹227.01 crore, LIC ₹0.20 crore, public-sector banks ₹0.09 crore, co-operative banks ₹0.02 crore and others ₹0.03 crore, out of ₹227.35 crore total.
The opened Calcutta High Court judgment records RVWO 27 of 2024 as WBFC v Efcalon and RVWO 7 of 2025 as Efcalon v WBFC. Both review applications were dismissed; the underlying dispute concerned equal sharing of stamp duty on an MOU connected to sale proceeds from DRT recovery proceedings.
What we could not confirm
The opened Finance Department report provides shareholding only as of 31 March 2018; it should be treated as historical. Current audited financials and employee figures were not extracted from the pages opened.