India’s first maritime NBFC, SMFCL, starts lending with ₹4,300cr sanctioned for ports, dredging and shipbuilding.
Sagarmala Finance Corporation (SMFCL), the first Non-Banking Financial Company in India dedicated to the maritime sector, has started its lending activities. This marks a significant development in the country’s maritime financial landscape. During its 51st Board Meeting on 30 December 2025, the organisation authorised loan sanctions totalling roughly ₹4,300 crore, officially entering the credit market as per its established strategy.
This step follows an ambitious commercial plan finalised at the SMFCL Annual General Meeting. At that gathering, the Board sanctioned a total borrowing capacity of ₹25,000 crore and set a lending goal of ₹8,000 crore for the present financial year. With these recent approvals set for payout before the end of the current fiscal period, the corporation aims to reach an ₹8,000 crore loan book for 2025-26, solidifying its role as a specialised financier for the industry.
Of the total amount, about ₹4,000 crore is intended for a Greenfield Port Project, furthering the central government’s infrastructure objectives. Additionally, the Dredging Corporation of India secured ₹150 crore, while Goa Shipyard was granted ₹110 crore to enhance dredging and local shipbuilding work.
SMFCL was inaugurated on 26 June 2025 by Sarbananda Sonowal, the Union Minister of Ports, Shipping and Waterways. The institution was established to close funding gaps and provide specific financial products for ports, small businesses, and startups, supporting the ‘Amrit Kaal Vision 2047’ and blue economy targets.
Regarding the start of lending, Sarbananda Sonowal remarked that the milestone represents the government’s determination to build a strong financial structure for maritime expansion. He noted that the entry of the corporation into the lending market is a vital move for infrastructure and enterprise finance. The minister added that under the current administration, the sector has seen significant policy improvements and increased investor trust, allowing specialised bodies to drive development.
The organisation expects credit ratings from major agencies shortly, which should help lower borrowing costs and assist in expanding lending. The growth strategy is supported by the Ministry of Ports, Shipping and Waterways, which has appointed the corporation as the lead agency for the ₹25,000 crore Maritime Development Fund.
This fund includes a ₹20,000 crore Maritime Investment Fund and a ₹5,000 crore Interest Incentivisation Fund. Under this system, SMFCL will manage the government’s stake in the investment fund and act as the primary body for distributing interest incentives across the industry.
The corporation also noted that upcoming guidelines for the Shipbuilding Financial Assistance Scheme, which has a budget of ₹44,700 crore, are expected to create new opportunities for investment in maritime manufacturing.
The body will provide bespoke financial products to both public and private entities across the maritime chain. Its services include various loan terms, solutions for cash-flow management, and products designed for the unique requirements of maritime enterprises. With operations now active, the corporation is set to accelerate infrastructure growth and improve access to finance for the expanding blue economy.
SOURCE – PIB
