(THE GIST OF PIB) Sagarmala Finance Corporation Limited

(JUNE-2025)

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

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.