Sagarmala Finance Corporation Limited

Sagarmala Finance Corporation Limited Latest News

Recently, the Union Minister of Ports, Shipping & Waterways (MoPSW) inaugurated Sagarmala Finance Corporation Limited (SMFCL).

About Sagarmala Finance Corporation Limited

• It is India’s first Non-Banking Financial Company (NBFC) in the maritime sector.
• It was formerly known as Sagarmala Development Company Limited.
• SMFCL —a Mini Ratna, Category-I, Central Public Sector Enterprise—has been formally registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI).
• As a sector-specific NBFC, SMFCL is uniquely poised to bridge financing gaps in the maritime sector and catalyse economic growth.
• Functions: The Corporation will offer tailored financial products—including short, medium, and long-term funding—to a diverse range of stakeholders such as port authorities, shipping companies, MSMEs, startups, and maritime educational institutions.
• It will also support strategic sectors like shipbuilding, renewable energy, cruise tourism, and maritime education, further reinforcing India’s vision to emerge as a global maritime leader.
• It is set to provide a more focused and accessible financial ecosystem for India’s maritime growth, enabling projects that contribute to sustainable development, innovation, and national logistics efficiency.
• SMFCL is now positioned to play a transformative role in India’s maritime infrastructure development, in alignment with the Amrit Kaal Vision 2047.

Source: PIB

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