**Summary:**
In response to Lok Sabha Unstarred Question No. 3421, addressed on August 8, 2025, the Ministry of Ports, Shipping and Waterways addressed inquiries regarding the Sagarmala Finance Corporation Ltd. (SMFCL). The Ministry stated that SMFCL has been registered by the Reserve Bank of India as a Non-Banking Financial Company (NBFC) to address financing gaps within the maritime sector, including port infrastructure, startups, and other maritime initiatives. SMFCL aims to offer tailored financial products to various stakeholders, including port authorities, shipping companies, and MSMEs. No specific targets have been set for Tier 1 capital utilization. Details regarding fund allocation across segments like shipbuilding, cruise tourism, renewable energy, and maritime education were not provided, as the question was deemed not to arise based on the previous responses. The Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal, provided the answer.
Key Entities Referenced
Sagarmala Finance Corporation Ltd.: A Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, aimed at bridging financing gaps in the maritime sector.
SHRI NABA CHARAN MAJHI: Member of Parliament (MP) who posed a question in the Lok Sabha regarding Sagarmala Finance Corporation Ltd.
PORTS, SHIPPING AND WATERWAYS: The sector/ministry under discussion in the context of the Lok Sabha question.
SHRI SARBANANDA SONOWAL: Minister of PORTS, SHIPPING AND WATERWAYS who provided the answer to the Lok Sabha question.
Reserve Bank of India: The central bank of India, which has registered Sagarmala Finance Corporation Limited as a Non-Banking Financial Company.
MSMEs: Micro, Small and Medium Enterprises; potential stakeholders for financial products offered by Sagarmala Finance Corporation Ltd.
Lok Sabha: The lower house of the Parliament of India, where the question regarding Sagarmala Finance Corporation Ltd. was raised.
Shipbuilding: A segment where funds are likely to be allocated
GOVERNMENT OF INDIA
MINISTRY OF PORTS, SHIPPING AND WATERWAYS
LOK SABHA
UNSTARRED QUESTION NO. 3421
ANSWERED ON 08.08.2025
SAGARMALA FINANCE CORPORATION LTD.
3421. SHRI NABA CHARAN MAJHI:
Will the Minister of PORTS, SHIPPING AND WATERWAYS be pleased to state:
प(cid:517)न, पोत प(cid:303)रवहन और जलमाग(cid:330) मं(cid:361)ी
(a) the steps taken by the Government to leverage Sagarmala Finance Corporation Ltd.
(SMFCL) to bridge financing gaps in port infrastructure, startups and other maritime
initiatives;
(b) the details of the tailored financial products offered by SMFCL;
(c) whether the Government has set targets for the Tier‑1 capital utilisation, if so, the
details thereof; and
(d) the manner in which these funds are likely to be allocated across segments like
shipbuilding, cruise tourism, renewable energy and maritime education?
ANSWER
MINISTER OF PORTS, SHIPPING AND WATERWAYS
(SHRI SARBANANDA SONOWAL)
(a) & (b) To bridge the financing gaps in the maritime sector, Sagarmala Finance
Corporation Limited (SMFCL) has been registered by Reserve Bank of India as a
dedicated Non-Banking Financial Company (NBFC). The corporation aims to offer
tailored financial products to diverse range of stakeholders such as port authorities,
shipping companies, MSMEs etc.
(c) No
(d) Question does not arise.
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