Sagarmala Finance Corporation inaugurated as India's first maritime NBFC
On 26 June 2025 in New Delhi, Union Minister Sarbananda Sonowal inaugurated Sagarmala Finance Corporation Limited, India's first NBFC in the maritime sector.
Summary
Union Ports, Shipping and Waterways Minister Sarbananda Sonowal inaugurated Sagarmala Finance Corporation Limited (SMFCL), India's first Non-Banking Financial Company (NBFC) in the maritime sector, on 26 June 2025 in New Delhi. SMFCL was formerly Sagarmala Development Company Limited and is a Mini Ratna Category-I Central Public Sector Enterprise. It was registered as an NBFC with the Reserve Bank of India on 19 June 2025 and is aligned with the Amrit Kaal Vision 2047.
Key facts
- Entity
- Sagarmala Finance Corporation Limited (SMFCL)
- Distinction
- India's first maritime-sector NBFC
- Former name
- Sagarmala Development Company Limited
- Status
- Mini Ratna Category-I CPSE
- RBI NBFC registration
- 19 June 2025
- Inaugurated by
- Sarbananda Sonowal
Practice MCQs 2 questions
Sagarmala Finance Corporation Limited, inaugurated on 26 June 2025 as India's first maritime NBFC, was formerly known as what?
Show answer
Correct answer: B — Sagarmala Development Company Limited
PIB: formerly known as Sagarmala Development Company Limited, SMFCL is India's first NBFC in the maritime sector.
What CPSE status does Sagarmala Finance Corporation Limited (SMFCL) hold?
Show answer
Correct answer: A — Mini Ratna Category-I
PIB: SMFCL is a Mini Ratna, Category-I, Central Public Sector Enterprise.