Kerala Urban and Rural Development Finance Corporation Ltd. (KURDFC) was started in 1970 as Non-Banking Financial Company registered under the Companies Act, 1956 based on the recommendation of the Rural Urban Relationship Committee constituted for the formation of Local Finance Corporation in the State. The share capital was contributed by Government of Kerala and Local Self Government Institutions. The main activity of the Company is to provide loan assistance to various LSGs in the State of Kerala for their developmental activities and to increase the non tax revenues of local bodies. KURDFC is playing the role of a state level dedicated infrastructure financing agency that would support both the Government of India’s (GOI) and Government of Kerala’s (GoK) objectives and policies for the urban and rural sector.
Erstwhile, Kerala Urban Development Finance Corporation Limited was established in January 28, 1970 as a private limited company.Subsequently it was converted into a public limited Company as KERALA URBAN AND RURAL DEVELOPMENT FINANCE CORPORATION LTD. (KURDFC LTD) on 16th July 2004 and thereby extended its activities to the 3-tier Panchayats, accordingly the name of the company was changed to Kerala Urban and Rural Development Finance Corporation Ltd (KURDFC).The main objective of KURDF is to provide such financial assistance by way of loans andadvances to Urban and Rural Local Bodies in the State for their developmental Schemes besides acting as a nodal agency for implementing various Central Government Schemes such as scheme for Housing and shelter up gradation under NRY, Low Cost Sanitation and Solid Waste Managementetc., which were implemented by the LSGs. Rs. 3000 Crores to more than 40,000 projects, spreadover the length and breadth of the State. Since inception KURDFC LTD has disbursed over 900 infrastructure projects like construction of shopping Complexes,Construction of Bus stands , Construction of Auditoriums and Children’s Parks are completed all over Kerala by the loan assistance of KURDFC and about 50 projects are going on.Up to 2016-17 Company has financed nearly 900 schemes with an amount of Rs. 249.36 Crores.
Further, so many housing projects were completed with the help of KURDFC by local bodies