India, Dec. 30 -- Sagarmala Finance Corporation Ltd (SMFCL) on Tuesday announced its entry into maritime financing, with its board approving loan sanctions worth Rs 4,300 crore for disbursement in the current financial year.
SMFCL, which has been inaugurated as India's first Non-Banking Financial Company (NBFC) dedicated to the maritime sector, said the latest loan approvals mark a significant milestone in building a specialised financing ecosystem for ports, shipping, and allied maritime infrastructure.
"Including this loan sanction of Rs 4,300 crore, which is scheduled for disbursement in the present fiscal year, the company is aiming to build a loan book of Rs 8,000 crore in FY 2025–26," SMFCL said in a statement, adding that the...