Sagarmala Finance Corporation disburses Rs 5,107 crore; office opened
Why in the news
On 23 October 2026, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal opened the corporate office of Sagarmala Finance Corporation Limited (SMFCL) at the Institute for Studies in Industrial Development, New Delhi.
Key facts
- First maritime NBFC: SMFCL is the country’s first non-banking finance company dedicated to the maritime sector.
- Lending areas: ports, rail and road connectivity, inland waterways, coastal infrastructure, port-hinterland logistics, and shipbuilding and ship repair.
- Targets: cumulative disbursement of Rs 60,205 crore by end-FY2031, linked to equity support in line with RBI norms.
- Maritime Investment Fund (MIF): SBI Ventures Limited is Fund Manager; SEBI registration as an Alternative Investment Fund is due by end-November; Government contribution of up to Rs 9,800 crore will flow through SMFCL.
- Interest Incentivisation Fund (IIF): its portal is live, has backed loans of Rs 4,500 crore and released about Rs 25 crore as interest subvention to eligible shipyards.
- SMFCL also tracks the use of Sagarmala and National Maritime Heritage Complex (NMHC) funds.
SMFCL in numbers
| Item | Amount |
|---|---|
| Sanctioned (30 Sep 2026) | Rs 11,563 crore |
| Disbursed (30 Sep 2026) | Rs 5,107 crore |
| Disbursement target by end-FY2031 | Rs 60,205 crore |
| MIF first close (Jan 2027 target) | Rs 5,000 crore |
| Govt contribution to MIF | up to Rs 9,800 crore |
| Loans supported under IIF | Rs 4,500 crore |
About the Maritime Development Fund
The Maritime Development Fund has two arms: the Maritime Investment Fund, which provides equity-style capital, and the Interest Incentivisation Fund, which lowers borrowing costs for shipyards. SMFCL works under the Ministry of Ports, Shipping and Waterways.
Exam angle
- SMFCL is India’s first maritime-sector NBFC.
- MIF Fund Manager: SBI Ventures Limited.
- Disbursed Rs 5,107 crore out of Rs 11,563 crore sanctioned.