Union Minister Sarbananda Sonowal on June 26, 2025, inaugurated Sagarmala Finance Corporation Limited (SMFCL)—India’s first sector-specific Non-Banking Financial Company catering exclusively to the maritime industry. Officially registered with the Reserve Bank of India on June 19, and classified as a Mini‑Ratna, Category‑I Central PSU, SMFCL has been repurposed from the former Sagarmala Development Company to meet long-standing demands for focused financing within the shipping and port ecosystem.
SMFCL will offer short-, medium-, and long‑term loans tailored to port authorities, shipping and logistics firms, MSMEs, startups, maritime educational institutions, shipbuilders, cruise-tourism operators, and green-energy initiatives. Positioned as a catalytic financial engine under the Maritime Amrit Kaal Vision 2047, it aims to bridge crucial funding gaps, modernise infrastructure, spur innovation, and help India emerge as a global maritime leader.
A. Priyadharshini
