Pratik Bijlani –
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 strengthening the country’s maritime finance ecosystem. At its 51st Board Meeting held on December 30, 2025, SMFCL approved loan sanctions amounting to approximately ₹4,300 crore, formally entering the maritime lending space in line with its board-approved strategy.
The move follows an ambitious roadmap cleared at the company’s Annual General Meeting, where an overall borrowing limit of ₹25,000 crore and a lending target of ₹8,000 crore were approved. With the newly sanctioned loans expected to be disbursed within the current financial year, SMFCL is targeting a loan book of ₹8,000 crore in FY 2025–26, reinforcing its role as a dedicated financier for India’s maritime sector.
Of the sanctioned amount, around ₹4,000 crore has been earmarked for a greenfield port project, underscoring the government’s emphasis on port-led development. In addition, Dredging Corporation of India has secured ₹150 crore, while Goa Shipyard has been sanctioned ₹110 crore, supporting dredging capacity and indigenous shipbuilding.
SMFCL was inaugurated on June 26, 2025, by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal as a specialised NBFC to bridge long-standing financing gaps across the maritime value chain. Commenting on the commencement of lending, Sonowal said the development reflected the government’s resolve to build a robust financial architecture for maritime growth, driven by policy clarity, institutional reforms and growing investor confidence.
The corporation is expected to receive credit ratings from major agencies shortly, which should help optimise borrowing costs and scale up lending operations. SMFCL has also been designated as the nodal agency for the Maritime Development Fund, with a total corpus of ₹25,000 crore, including a Maritime Investment Fund and an Interest Incentivisation Fund.
With lending now underway, SMFCL is positioned to play a catalytic role in accelerating maritime infrastructure development, supporting shipbuilding and expanding access to institutional finance across India’s rapidly growing blue economy.
Marex Media