India’s first maritime NBFC, SMFCL begins lending

India’s first maritime-focused non-banking financial company (NBFC), Sagarmala Finance Corporation Limited (SMFCL) has commenced lending operations. SMFCL approved loan sanctions of about Rs 43 billion, with a target to build a Rs 80 billion loan book in FY 2025-26. while Rs 40 billion has been set aside for a greenfield port project, the Dredging Corporation of India and Goa Shipyard secured Rs 1.5 billion and Rs 1.1 billion respectively under the same tranche to boost dredging capacity and shipbuilding. Inaugurated on June 26, 2025, SMFCL was established to bridge long-standing financing gaps and drive the blue economy forward under the Amrit Kaal Vision 2047.