Sagarmala Finance Corporation Limited, India’s first non-banking financial company dedicated exclusively to maritime infrastructure, has formally commenced lending after its Board sanctioned loans worth nearly Rs 43 billion at its 51st meeting held on December 30, 2025. The corporation, inaugurated in June 2025, said the approvals mark the start of an aggressive scale-up strategy approved at its annual general meeting.

At the AGM, the Board cleared a borrowing ceiling of Rs 250 billion and set a lending target of Rs 80 billion for FY 2025–26. The projects sanctioned so far are expected to be disbursed before the end of the fiscal year, positioning SMFCL firmly within the domestic maritime finance ecosystem and enabling it to build an Rs 80 billion loan book in its first full year of operations.

A substantial portion of the sanctions—around Rs 40 billion—will support the development of a greenfield port project. In addition, Dredging Corporation of India has secured funding of Rs 1.5 billion, while Goa Shipyard is set to receive Rs 1.1 billion, strengthening dredging capacity and indigenous shipbuilding infrastructure.

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal described the commencement of lending as a key milestone for India’s maritime sector. SMFCL is also awaiting credit ratings from leading agencies, which are expected to help reduce borrowing costs as it expands operations.

The corporation additionally acts as the nodal agency for operationalising the Maritime Development Fund, which has a corpus of Rs 250 billion, and will manage government contributions to the Maritime Investment Fund in a fiduciary capacity.