Sagarmala Finance Corp aims for Rs 60,205 cr disbursal by 2031

Sagarmala Finance Corporation Limited (SMFCL) aims for cumulative disbursements of Rs 60,205 crore by fiscal 2030-31-end, an official statement said Friday. India’s first dedicated Non Banking Financial Company (NBFC) in the maritime sector has sanctioned Rs 11,563 crore financing of which Rs 5,107 crore has been disbursed as on September-end.

The 2031 goal “depends on equity support to scale up in line with Reserve Bank of India norms and its debt-to-equity ratio,” the statement added.

Speaking at the inauguration of its new office in the national capital, Union Shipping Minister Sarbananda Sonowal said SMFCL is “playing a pivotal role in mobilising long-term finance for port-led development, enhancing shipbuilding and coastal connectivity.”


The schemes SMFCL runs now cover a maritime project from first idea to final loan. The Maritime Development Fund (MDF), which has two components, is also taking shape. For its Maritime Investment Fund (MIF) component, SBI Ventures Limited has been appointed official Fund Manager. Registration as an Alternative Investment Fund with SEBI is due to be completed by the end of November, and the first close of Rs 5,000 crore is targeted by January, 2027, the statement said.

The centre's contribution to the Maritime Investment Fund, up to Rs 9,800 crore, is channelled through SMFCL.

“The Interest Incentivisation Fund (IIF) is already delivering,” the statement said, adding its online portal, is live, and loans of Rs 4,500 crore have been supported so far. About Rs 25 crore of interest subvention has been released against interest paid by borrowers.

The Interest Incentivisation Fund eases the cost of borrowing for eligible shipyards, with SMFCL working out the incentive, running the application and claims portal, and releasing the interest support. Under the Shipbuilding Development Scheme, the credit risk cover corpus is managed centrally and backed by premium and claims review, giving shipyards and lenders a safety net against payment risk.