Union Minister Sonowal inaugurates India’s 1st maritime sector NBFC, Sagarmala Finance Corporation –

Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, today inaugurated India’s first Non-Banking Financial Company-NBFC in the maritime sector, Sagarmala Finance Corporation Limited-SMFCL. Speaking on the occasion, the Minister said that the registration of Sagarmala Finance Corporation Limited as an NBFC is a major milestone in India’s maritime journey. He said that SMFCL will bridge crucial financing gaps and offer sector-specific financial solutions, empowering ports, MSMEs, startups, and institutions. He added that this move is in perfect alignment with the Maritime Amrit Kaal Vision 2047, and making the country a leading global maritime power and Viksit Bharat.