New Delhi, June 26 -- The Union Minister of Ports, Shipping & Waterways MoPSW), Sarbananda Sonowal, on Thursday inaugurated Sagarmala Finance Corporation Limited (SMFCL), India's first Non-Banking Financial Company (NBFC) in the maritime sector.

The Union Minister Sonowal was joined by the Union Minister of State for MoPSW, Shantanu Thakur along with Secretary, MoPSW, TK Ramachandran at the launch.

Formerly known as Sagarmala Development Company Limited, SMFCL is now positioned to play a transformative role in India's maritime infrastructure development, in alignment with the Amrit Kaal Vision 2047. SMFCL --a Mini Ratna, Category-I, Central Public

Sector Enterprise has been formally registered as a Non-Banking Financial Company (NBFC) ...