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.
