SMFCL Launches Maritime Lending Operations with ₹4,300 Crore in Loans
SMFCL Begins Lending Operations
New Delhi, Jan 1: The government has announced that Sagarmala Finance Corporation Limited (SMFCL), India's inaugural maritime-focused non-banking financial company (NBFC), has initiated its lending operations, approving loans totaling approximately ₹4,300 crore.
This marks SMFCL's official entry into the maritime lending sector, aligning with the strategic plan endorsed by its Board, as stated by the Ministry of Ports, Shipping and Waterways.
Union Minister Sarbananda Sonowal remarked, “The commencement of SMFCL’s lending is a significant advancement in enhancing maritime infrastructure and financing enterprises. This initiative is bolstered by the dynamic and visionary leadership of our Prime Minister Modi.”
He further emphasized that such dedication to sustainable, long-term growth has fostered an environment where specialized institutions like SMFCL can drive development within the blue economy. With a fortified maritime sector, we are steadily progressing towards our vision of a developed India,” the minister added.
This development follows an ambitious market strategy approved during SMFCL’s annual general meeting (AGM), where the Board set an overall borrowing cap of ₹25,000 crore and a lending goal of ₹8,000 crore for the current fiscal year.
“With the latest loan approvals expected to be disbursed within this fiscal year, SMFCL aims to achieve a loan portfolio of ₹8,000 crore by FY 2025-26, reinforcing its commitment to becoming a reliable financier for the maritime industry,” the ministry stated.
Approximately ₹4,000 crore has been allocated for a Greenfield Port Project, furthering the government's initiative for port-led development.
Additionally, the Dredging Corporation of India (DCI) has secured ₹150 crore, while Goa Shipyard has received ₹110 crore from this funding round, enhancing dredging capabilities and indigenous shipbuilding.
Established on June 26, 2025, SMFCL was designed to address long-standing financing challenges and provide tailored financial solutions to ports, MSMEs, startups, and institutions, in line with the 'Amrit Kaal Vision 2047' and the broader objectives of the blue economy.
This achievement underscores the commitment of the Prime Minister Modi-led government to create a robust financial framework for the growth of India's maritime sector, according to the minister.
SMFCL’s growth strategy is supported by strong institutional backing from the Ministry of Ports, Shipping and Waterways, which has appointed the corporation as the lead agency for the establishment and management of the Maritime Development Fund (MDF), with a total fund size of ₹25,000 crore.