New Delhi - The Shipping Ministry has proposed to launch a non-banking finance company (NBFC) under its Sagarmala initiative to meet the financing needs of the shipping and shipyard sectors, two senior officials familiar with the matter said.
The Finance Ministry is currently evaluating the proposal, the officials from the shipping ministry said. The non-bank lender will also need Reserve Bank of India clearance to carry out lending. The officials expect the shipping ministry to get all the necessary approvals and launch the new NBFC by . . .
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