New Delhi - Sagarmala Finance Corporation (SMFCL), marking its foray into maritime financing, announced that its board has approved a loan disbursement of Rs 4,300 crore for the ongoing fiscal year. This move positions SMFCL as a pioneering enterprise in the sector, being India’s first Non-Banking Financial Company (NBFC) dedicated to maritime finances.

The organization aspires to expand its loan book to Rs 8,000 crore by the fiscal year 2025-26. The corporation, supported by the Ministry of Ports, Shipping and Waterways, has been named the nodal agency to coordinate the Maritime Development Fund . . .