India’s First Maritime NBFC SMFCL Opens Lending, Sanctions ₹4,300 Cr

The Sagarmala Finance Corporation Limited (SMFCL), India’s first maritime sector-focused Non-Banking Financial Company (NBFC), has commenced lending operations with board approval of ~₹4,300 crore in loans, marking its strategic entry into maritime financing. ([Press Information Bureau][1]) Established under the Ministry of Ports, Shipping & Waterways and formally registered as an NBFC with the Reserve Bank of India on 19 June 2025, SMFCL aims to build an ₹8,000 crore loan book in FY 2025-26 to bridge persistent financing gaps in ports, shipping, dredging, and related maritime infrastructure. About ₹4,000 crore has been earmarked for a greenfield port project, with additional sanctions to Dredging Corporation of India (₹150 cr) and Goa Shipyard (₹110 cr) to boost dredging capacity and indigenous shipbuilding. SMFCL is designated the nodal agency for the ₹25,000 crore Maritime Development Fund, comprising a ₹20,000 crore Maritime Investment Fund and ₹5,000 crore Interest Incentivisation Fund, which will enhance funding support across the maritime value chain. The NBFC’s tailored financial products will support ports, MSMEs, startups, and private entities, reinforcing India’s blue economy growth and maritime infrastructure expansion in line with national priorities.