India’s first maritime-focused non-banking financial company, Sagarmala Finance Corporation Limited (SMFCL), has formally begun lending operations with loan sanctions of about ₹4,300 crore. The development marks a major step in building a dedicated maritime finance ecosystem for ports, shipping, shipbuilding and allied industries. The sanctioned loans are expected to be disbursed within the current financial year, with the company targeting a loan book of ₹8,000 crore in FY26.
Key Lending Milestone
SMFCL approved the loans at its 51st board meeting. The sanctions reflect the company’s entry into active maritime lending after its inauguration in June 2025. The move is aligned with its broader strategy to support sector-specific financing needs that are often not fully addressed by conventional lenders.
Major Allocation of Funds
A large part of the sanctioned amount, nearly ₹4,000 crore, has been set aside for a greenfield port project. This supports the government’s port-led development approach. Other notable allocations include:
- ₹150 crore for Dredging Corporation of India.
- ₹110 crore for Goa Shipyard.
- Funding support for dredging and indigenous shipbuilding.
Role in Maritime Finance Ecosystem
SMFCL was created to address financing gaps in the maritime sector. It aims to provide tailored financial solutions to ports, MSMEs, startups and maritime institutions. The company has also been designated as the nodal agency for the Maritime Development Fund, which has a corpus of ₹25,000 crore. This includes a ₹20,000-crore Maritime Investment Fund and a ₹5,000-crore Interest Incentivisation Fund.
Policy Significance and Future Plans
The corporation expects credit ratings from major agencies soon, which may help reduce borrowing costs and expand lending capacity. It also plans to offer short-, medium- and long-term loans, cash-flow support, balance-sheet financing and non-fund-based products. The expected Shipbuilding Financial Assistance Scheme, with an outlay of ₹44,700 crore, may further expand investment opportunities in shipbuilding and allied sectors.
Last Modified: April 25, 2026