New Delhi, Oct. 23 -- Union Minister of Ports, Shipping & Waterways (MoPSW), Sarbananda Sonowal, inaugurated the corporate office of Sagarmala Finance Corporation Limited (SMFCL) at the Institute for Studies in Industrial Development (ISID) in New Delhi on Friday, giving a permanent home to what he called India's first dedicated Non-Banking Financial Company (NBFC) in the maritime sector.

The new office opens at a time of fast progress. As of September 30, SMFCL has sanctioned Rs 11,563 crore of financing and disbursed Rs 5,107 crore, with more than half of the sanctioned amount still to be drawn as projects advance.

The corporation's plan looks well beyond today. It aims to reach cumulative disbursements of Rs 60,205 crore by the end o...