India Launches First Maritime NBFC Sagarmala Finance Corporation

India has inaugurated its first maritime sector Non-Banking Financial Company (NBFC), Sagarmala Finance Corporation Limited (SMFCL). Minister Sarbananda Sonowal highlighted its role in bridging financing gaps for ports, startups, and institutions. With a Tier 1 capital of ₹680 crore, SMFCL aims to provide tailored financial solutions to various stakeholders.

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India would have its own maritime financier for Sagarmala Development

India Transforms Sagarmala Development Company into NBFC for Maritime Financing

India’s Ministry of Port, Shipping, and Waterways is converting Sagarmala Development Company Ltd. into a non-banking financial company to support marine projects nationally and internationally. With plans to apply for RBI registration, SDCL will focus on leasing and debt financing for maritime enterprises, enhancing port infrastructure and connectivity.

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