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.