{"id":46504,"date":"2025-06-28T19:56:46","date_gmt":"2025-06-28T14:26:46","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=46504"},"modified":"2025-06-28T19:57:03","modified_gmt":"2025-06-28T14:27:03","slug":"india-first-maritime-nbfc-launched","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/28-06-2025\/india-first-maritime-nbfc-launched","title":{"rendered":"India&#8217;s First Maritime NBFC Launched"},"content":{"rendered":"\n<p><strong>Syllabus :GS3\/Economy&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In News<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Union Minister of Ports, Shipping &amp; Waterways (MoPSW) inaugurated Sagarmala Finance Corporation Limited (SMFCL).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Sagarmala Finance Corporation Limited (SMFCL)<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It was formerly known as Sagarmala Development Company Limited.<\/li>\n\n\n\n<li>It is\u00a0 a Mini Ratna, Category-I, Central Public Sector Enterprise and has been formally registered as a<strong> <\/strong><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/25-11-2024\/nbfcs-an-important-pillar-of-the-financial-ecosystem\"><strong>Non-Banking Financial Company (NBFC) <\/strong><\/a>with the Reserve Bank of India (RBI) .<\/li>\n\n\n\n<li>It is <strong>India\u2019s first NBFC\u00a0 in the <\/strong><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/28-02-2025\/maritime-sector-initiatives#:~:text=Maritime%20Sector's%20Importance%3A%20India%20is,to%20bolster%20the%20maritime%20sector.\"><strong>maritime sector.\u00a0<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#fff2cc\"><tbody><tr><td><strong>Do you know?<\/strong><br>&#8211; A Non-Banking Financial Company (NBFC) is a company registered under the <strong>Companies Act, 1956 or 2013<\/strong><br>&#8211; It is\u00a0 primarily engaged in financial activities like loans, advances, and investments in securities.\u00a0<br>&#8211; It excludes companies whose main business is agriculture, industry, trade in goods or services, or real estate.\u00a0<br>1. Companies that collect deposits under various schemes are classified as Residuary NBFCs.<br>&#8211; <strong>Banks and NBFCs differ<\/strong> in key ways despite both engaging in lending and investments:<br>1. NBFCs cannot accept demand deposits.<br>2. NBFCs are not part of the payment and settlement system and cannot issue cheques.<br>3. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not available to depositors of deposit taking NBFCs.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Importance of SMFCL<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It is aligned with the Maritime Amrit Kaal Vision 2047 and aims to bridge financing gaps and offer tailored financial solutions for ports, MSMEs, startups, and maritime institutions.<\/li>\n\n\n\n<li>It will support strategic areas like shipbuilding, renewable energy, cruise tourism, and maritime education, helping to drive economic growth and logistics efficiency.<\/li>\n\n\n\n<li>The launch marks a key step in making India a global maritime power, creating a dedicated financial ecosystem for inclusive and sustainable maritime development.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/28-02-2025\/maritime-sector-initiatives#:~:text=Maritime%20Sector's%20Importance%3A%20India%20is,to%20bolster%20the%20maritime%20sector.\" rel=\"nofollow\"><strong>India&#8217;s maritime sector\u00a0<\/strong><\/a><br>&#8211; It is crucial to its trade, handling 95% of trade by volume and 70% by value.<br>&#8211; The Ministry of Ports, Shipping &amp; Waterways oversees the sector, which includes 12 major and 200+ minor ports.<br>&#8211; In FY24, ports handled 818 million tonnes of cargo, up 4.45% from FY23. The government supports the sector with 100% FDI and tax incentives.<br>&#8211; The <strong>Amrit Kaal Vision 2047 builds on Maritime India Vision 2030 <\/strong>to globalize ports, enhance inland\/coastal shipping, and promote sustainability.\u00a0<br>&#8211; <strong>SAGAR SETU Platform<\/strong> was launched by the Ministry of Ports, Shipping and Waterways (MoPSW) in June 2025 to revolutionize maritime and logistics operations.<br>&#8211; India also plans a new shipping company to expand its fleet by 1,000 ships, aiming to cut foreign freight costs by a <strong>third by 2047.\u00a0<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Source: TH<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>In News<\/strong><\/h3>\n<li class=\"ms-5\">The Union Minister of Ports, Shipping &#038; Waterways (MoPSW) inaugurated Sagarmala Finance Corporation Limited (SMFCL).<\/li>\n<p><\/p>\n<h3><strong>Sagarmala Finance Corporation Limited (SMFCL)<\/strong><\/h3>\n<li class=\"ms-5\">It was formerly known as Sagarmala Development Company Limited.<\/li>\n<li class=\"ms-5\">It is\u00a0 a Mini Ratna, Category-I, Central Public Sector Enterprise and has been formally registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI) .<\/li>\n<li class=\"ms-5\">It is India\u2019s first NBFC\u00a0 in the maritime sector.\u00a0<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/28-06-2025\/india-first-maritime-nbfc-launched\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-46504","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=46504"}],"version-history":[{"count":3,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46504\/revisions"}],"predecessor-version":[{"id":46513,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46504\/revisions\/46513"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=46504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=46504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=46504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}