NE BUSINESS BUREAU
NEW DELHI, JAN 1
Sagarmala Finance Corporation Limited (SMFCL), India’s first maritime-focused Non-Banking Financial Company (NBFC), has formally commenced lending operations, marking a significant milestone in the evolution of the country’s maritime finance ecosystem. The company approved loan sanctions totalling about ₹4,300 crore at its 51st Board Meeting held on December 30, 2025, officially entering the maritime lending space in line with its Board-approved strategy.
After receiving NBFC registration on 19th Jun'25 SMFCL has commenced lending operations &sanctioned ₹4,300Cr in its 51st Board Meeting today 30/12/2025.With this,SMFCL proudly foray into Maritime Financing-charting a bold new course! @shipmin india,@sarbanandsonwal @PMOIndia pic.twitter.com/bLQmszq3UZ
— Sagarmala Finance Corporation Limited (@SDCL_India) December 30, 2025
The development follows an aggressive market roadmap cleared at SMFCL’s Annual General Meeting, where the Board approved an overall borrowing limit of ₹25,000 crore and a lending target of ₹8,000 crore for the current financial year. With the sanctioned loans scheduled for disbursement within the ongoing fiscal, SMFCL is targeting a loan book of ₹8,000 crore in FY 2025–26, reinforcing its ambition to emerge as a dedicated and credible financier for India’s maritime sector.
- Dedicated maritime lender targets ₹8,000 crore loan book in FY26 as India’s blue economy gets a financial backbone
- ₹4,000 crore earmarked for Greenfield port project; DCI and Goa Shipyard among key beneficiaries
- SMFCL positioned as nodal agency for ₹25,000 crore Maritime Development Fund
Of the sanctioned amount, about ₹4,000 crore has been earmarked for a Greenfield port project, underscoring the Centre’s thrust on port-led development. In the same tranche, Dredging Corporation of India secured ₹150 crore, while Goa Shipyard received ₹110 crore, supporting enhanced dredging capacity and indigenous shipbuilding.
SMFCL was inaugurated on June 26, 2025, as India’s first NBFC exclusively focused on maritime financing. The institution was established to bridge long-standing financing gaps and deliver sector-specific financial solutions to ports, MSMEs, startups and institutions, aligned with the goals of Amrit Kaal Vision 2047 and the broader blue economy roadmap.
Commenting on the commencement of lending operations, Sarbananda Sonowal said, “This is a milestone which reflects PM Narendra Modi-led government’s resolve to build robust financial architecture for India’s maritime growth. SMFCL’s entry into lending marks an important step in strengthening maritime infrastructure and enterprise financing. This initiative draws strength from our dynamic PM Modi’s bold, inspiring and visionary leadership. Under Modi’s leadership, our maritime sector has witnessed unprecedented policy clarity, institutional reform and investor confidence. Such commitment to long-term, future-ready growth has created the ecosystem that enables specialised institutions like SMFCL to catalyse development across the blue economy. With a strengthened maritime sector, we are cruising smoothly towards our goal of Viksit Bharat.”
The company said ratings from major credit rating agencies are expected shortly, a move that is likely to optimise borrowing costs and support the scaling up of lending operations. SMFCL’s expansion strategy is backed by strong institutional support from the Ministry of Ports, Shipping and Waterways, which has designated the corporation as the nodal agency for the establishment and operational coordination of the Maritime Development Fund (MDF) with a total corpus of ₹25,000 crore.
The MDF comprises the Maritime Investment Fund with a corpus of ₹20,000 crore and the Interest Incentivisation Fund with a corpus of ₹5,000 crore. Under the approved framework, SMFCL will hold and manage the Government of India’s contribution to the Alternative Investment Fund for the Maritime Investment Fund in a fiduciary capacity. In addition, SMFCL will act as the nodal agency to channelise the Interest Incentivisation Fund, significantly expanding funding support across maritime segments.
SMFCL also noted that the forthcoming notification of guidelines for the Shipbuilding Financial Assistance Scheme, with an outlay of ₹44,700 crore, is expected to unlock new investment and collaboration opportunities, particularly in shipbuilding and allied industries, further strengthening the domestic maritime manufacturing ecosystem.
The corporation will offer tailored financial products to eligible government and private sector entities across the entire maritime value chain, including short-, medium- and long-term loans, cash-flow support, balance-sheet financing, and non-fund-based products designed to meet the specialised needs of maritime projects and enterprises.
With lending operations now underway, SMFCL said it is well positioned to play a catalytic role in accelerating maritime infrastructure development, supporting indigenous shipbuilding, and deepening access to institutional finance for India’s rapidly expanding blue economy, in line with national development priorities.
