The Sagarmala Finance Corporation Limited (SMFCL), India’s first maritime-focused non-banking financial company (NBFC), has started its lending operations and approved loan sanctions totaling around Rs 4,300 crore. This move aligns with the strategy endorsed by its Board, as stated by the Ministry of Ports, Shipping and Waterways. Union Minister Sarbananda Sonowal highlighted that SMFCL’s entry into lending signifies a significant advancement in strengthening maritime infrastructure and enterprise financing.
Following a market roadmap approved at SMFCL’s annual general meeting, the Board has set an overall borrowing limit of Rs 25,000 crore and a lending target of Rs 8,000 crore for the current fiscal year. The ministry announced that SMFCL aims to disburse the latest sanctions within the ongoing fiscal year and is targeting a loan book of Rs 8,000 crore by FY 2025-26, positioning itself as a reliable financier for the maritime sector.
Nearly Rs 4,000 crore has been allocated for a Greenfield Port Project, emphasizing the government’s emphasis on port-led development. Furthermore, the Dredging Corporation of India (DCI) received Rs 150 crore, while Goa Shipyard was granted Rs 110 crore from the same tranche to bolster dredging capacity and indigenous shipbuilding capabilities. SMFCL, established on June 26, 2025, aims to bridge financing gaps and provide sector-specific financial solutions in alignment with the ‘Amrit Kaal Vision 2047’ and the country’s broader blue economy objectives.
This milestone underscores the government’s commitment, led by Prime Minister Narendra Modi, to establish a robust financial framework for India’s maritime growth. SMFCL’s expansion strategy is supported by the Ministry of Ports, Shipping and Waterways, which has appointed the corporation as the nodal agency for the Maritime Development Fund (MDF) with a total corpus of Rs 25,000 crore.
