Sarbananda Sonowal launches Sagarmala Finance Corporation—India’s first maritime NBFC:

Union Minister Sarbananda Sonowal inaugurated Sagarmala Finance Corporation Limited (SMFCL), India’s first dedicated Non‑Banking Financial Company for the maritime sector. Previously known as Sagarmala Development Company Limited, SMFCL will now help finance infrastructure projects under the Sagarmala initiative, aiming to modernize ports and coastal logistics.