Sonowal Unveils Sagarmala Finance Corporation to Boost Maritime Financing:
Union Minister Sarbananda Sonowal inaugurated the country’s first Non-Banking Financial Company (NBFC) dedicated to maritime development – the Sagarmala Finance Corporation Limited (SMFCL). The launch marks a significant step in bridging critical financial gaps in the sector and aligns with India’s Maritime Amrit Kaal Vision 2047, aiming to transform India into a global maritime powerhouse. India has officially launched Sagarmala Finance Corporation Limited (SMFCL), its first maritime-focused NBFC, to provide tailored financial solutions for maritime infrastructure, port operations, MSMEs, and green initiatives. This strategic move complements broader national goals like Viksit Bharat and Maritime Amrit Kaal Vision 2047.
