The OSFDC was established in the year 1979-80. Its objective is to implement / take up various economic programmes for the benefit of the poor Scheduled Caste, Scheduled Tribe (DTDP) and Scavengers of the State.
The OSFDC implements a variety of income generating schemes and skill development programmes for which funds are received mainly from four sources. The Special Central Assistance (SCA) to Scheduled Caste Component Plan (SCCP) received from the Ministry of Social Justice and Empowerment is administered through the OSFDC primarily for family oriented income generating scheme in respect of SC families below the poverty line and related / relatable infrastructure. The income generating schemes are implemented involving Blocks, urban Local Bodies and District / Assistant District Management of OSFDC. Beneficiaries are given bank loan under viable schemes with 50% subsidy of the project cost. Besides OSFDC receives fund under SCA to TSP, for credit linked income generating schemes and infrastructure development incidental to income generation for dispersed tribals. OSFDC also receives funds from the National Finance Development Corporation of Scheduled Caste, Scheduled Tribes and safai karmacharies and implements programmes for the target groups.