Sagarmala Finance Corporation Limited (SMFCL), India’s first Non Banking Financial Company focused exclusively on the maritime sector, has officially started its lending operations. The development marks a significant step in strengthening financial support for ports, shipping and allied infrastructure across the country.
In its 51st Board meeting held on 30 December 2025, the corporation approved loans amounting to nearly Rs 4,300 crore. These sanctions align with the ambitious expansion roadmap approved earlier at the Annual General Meeting, where the Board authorised a borrowing limit of Rs 25,000 crore and set a lending target of Rs 8,000 crore for the financial year 2025–26.
The approved projects are expected to be disbursed before the close of the current fiscal year, enabling SMFCL to build a loan book of around Rs 8,000 crore in its first year of operations. A major share of the sanctioned amount, close to Rs 4,000 crore, has been allocated for the development of a Greenfield port project, underscoring the corporation’s focus on creating new maritime infrastructure.
In addition to port development, the approvals include Rs 150 crore for the Dredging Corporation of India to enhance dredging capacity, and Rs 110 crore for Goa Shipyard, aimed at supporting domestic shipbuilding and strengthening indigenous manufacturing capabilities.
Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, described the commencement of lending as an important milestone in India’s maritime growth journey, highlighting the role of dedicated financial institutions in accelerating sectoral development.
SMFCL is currently in the process of obtaining credit ratings from leading rating agencies, a move expected to help reduce its cost of borrowing as it scales up operations. Beyond direct lending, the corporation also functions as the nodal agency for implementing the Maritime Development Fund, which has a corpus of Rs 25,000 crore. It will additionally manage the government’s contribution to the Maritime Investment Fund in a fiduciary capacity.
With lending now underway, SMFCL is positioning itself as a central pillar in financing India’s long term maritime and port infrastructure ambitions.
