Pariksha SaathiSMFCL, India's first maritime NBFC, has disbursed ₹5,107 crore and targets ₹60,205 crore by FY2031
Union Ports, Shipping and Waterways Minister Sarbananda Sonowal inaugurated the corporate office of Sagarmala Finance Corporation Limited (SMFCL), India's first dedicated NBFC in the maritime sector, at the Institute for Studies in Industrial Development (ISID) in New Delhi on 23 October 2026. As on 30 September 2026, SMFCL had sanctioned ₹11,563 crore of financing and disbursed ₹5,107 crore, and it aims for cumulative disbursements of ₹60,205 crore by the end of FY2031. Under the Maritime Development Fund, SBI Ventures Limited has been appointed Fund Manager of the Maritime Investment Fund, which targets a first close of ₹5,000 crore by January 2027; the Government's contribution to that fund, up to ₹9,800 crore, is channelled through SMFCL. The fund's other component, the Interest Incentivisation Fund, has supported loans of ₹4,500 crore and released about ₹25 crore of interest subvention.
Drafted with AI assistance from the official PIB release linked above and checked against it by a second AI pass. Not line-edited by a human.
Learning context
Sagarmala Finance Corporation Limited, formerly known as Sagarmala Development Company Limited, is a Mini Ratna, Category-I Central Public Sector Enterprise. It was registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India on 19 June 2025, and Union Minister Sarbananda Sonowal inaugurated it as India's first NBFC in the maritime sector on 26 June 2025.
Check yourself: what was SMFCL called before, and when was it registered as an NBFC with the RBI?
Sagarmala Development Company Limited; on 19 June 2025.
Revision task: from this release, note SMFCL's sanctioned and disbursed amounts as on 30 September 2026, its FY2031 target, the Fund Manager of the Maritime Investment Fund and the Government's contribution to it; from the note, SMFCL's former name, its CPSE category and its NBFC registration date.
Test yourself
Which company, described as India's first dedicated NBFC in the maritime sector, opened its corporate office in New Delhi on 23 October 2026?
Show the answer
Answer: Sagarmala Finance Corporation Limited (SMFCL)
Sagarmala Finance Corporation Limited (SMFCL) is India's first dedicated NBFC in the maritime sector. As on 30 September 2026 it had disbursed ₹5,107 crore.
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