Answer: Sagarmala Finance Corporation Limited
Notes: Recently, the Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, launched Sagarmala Finance Corporation Limited (SMFCL), India’s first Non-Banking Financial Company (NBFC) for the maritime sector. SMFCL was earlier known as Sagarmala Development Company Limited. It was formally registered with the Reserve Bank of India (RBI) on June 19, 2025. SMFCL aims to bridge financing gaps and provide sector-specific funding to ports, shipping companies, Micro Small and Medium Enterprises (MSMEs), startups, and maritime institutes.
