Sonowal opens corporate office of India's first maritime NBFC, Sagarmala Finance Corporation; ₹5,107 crore disbursed so far

📅 23 October 2026 📍 India › Delhi Important

Union Minister Sarbananda Sonowal inaugurated the corporate office of Sagarmala Finance Corporation Limited (SMFCL), India's first dedicated maritime NBFC, at ISID in New Delhi on 23 October 2026; SMFCL has disbursed ₹5,107 crore and aims for ₹60,205 crore cumulative disbursements by FY2031.

Summary

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal inaugurated the corporate office of Sagarmala Finance Corporation Limited (SMFCL) at the Institute for Studies in Industrial Development (ISID), New Delhi, on 23 October 2026. SMFCL is India's first dedicated Non-Banking Financial Company in the maritime sector. As on 30 September 2026 it had sanctioned ₹11,563 crore and disbursed ₹5,107 crore, and it aims for cumulative disbursements of ₹60,205 crore by the end of FY2031. Under the Maritime Development Fund, SBI Ventures Limited is the Fund Manager of the Maritime Investment Fund (MIF), whose first close of ₹5,000 crore is targeted by January 2027; the Government's contribution to MIF of up to ₹9,800 crore is routed through SMFCL. The Interest Incentivisation Fund (IIF) portal iifmdf.in has supported loans of ₹4,500 crore.

Key facts

Entity: Sagarmala Finance Corporation Limited (SMFCL), India's first maritime NBFC
Office: Corporate office at ISID, New Delhi, inaugurated 23 October 2026
Inaugurated by: Sarbananda Sonowal, Minister of Ports, Shipping and Waterways
Sanctioned / disbursed: ₹11,563 crore / ₹5,107 crore (as on 30 Sep 2026)
Target: ₹60,205 crore cumulative disbursements by end-FY2031
MDF components: Maritime Investment Fund (MIF) and Interest Incentivisation Fund (IIF)
MIF: Fund Manager SBI Ventures; first close of ₹5,000 crore by Jan 2027; GoI share up to ₹9,800 crore
IIF: Portal iifmdf.in; loans of ₹4,500 crore supported

Practice MCQs 2 questions

Sagarmala Finance Corporation Limited (SMFCL), whose corporate office was inaugurated in October 2026, is described as India's first dedicated NBFC in which sector?

Show answer

Correct answer: A — Maritime

Sarbananda Sonowal called SMFCL India's first dedicated Non-Banking Financial Company in the maritime sector.

Q2 Advanced

Which entity has been appointed Fund Manager of the Maritime Investment Fund (MIF) component of the Maritime Development Fund?

Show answer

Correct answer: B — SBI Ventures Limited

PIB (23 October 2026): For the MIF component of the Maritime Development Fund, SBI Ventures Limited has been appointed official Fund Manager.