Explanation:

Madhya Pradesh Financial Corporation is the premier institution of the state, engaged in providing financial assistance and related services to small to medium sized industries.Incorporated in the year 1955,under the State Financial Corporation Act, 1951 , it works under the control of the Board of Directors, consisting of representatives from State Government, Small Industries Development Bank of India, Reserve Bank of India, Scheduled Banks, Insurance Companies, Co-operative Banks and other shareholders. MPFC is a well knit organisation with its head quarters at Indore - the industrial hub of Madhya Pradesh, and 20 offices at different places.