Consider the following statements with respect to Sagarmala Finance Corporation Limited:
1. It is India’s first Non-Banking Financial Company (NBFC) in the maritime sector.
2. It will bridge crucial financing gaps and offer sector-specific financial solutions.

Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Question

Consider the following statements with respect to Sagarmala Finance Corporation Limited:
1. It is India&rsquo;s first Non-Banking Financial Company (NBFC) in the maritime sector.
2. It will bridge crucial financing gaps and offer sector-specific financial solutions.

Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

ONLiNE UPSC · Accepted Answer

Recently, the Union Minister for Ports, Shipping and Waterways, inaugurated India&rsquo;s first Non-Banking Financial Company-NBFC in the maritime sector, Sagarmala Finance Corporation Limited-SMFCL.

Statement 1 is correct: Sagarmala Finance Corporation Limited (SMFCL) is officially recognized as India&rsquo;s first Non-Banking Financial Company (NBFC) dedicated to the maritime sector.

Statement 2 is correct: Sagarmala Finance Corporation Limited (SMFCL)has been established to address the unique financial needs of the maritime sector by bridging financing gaps and providing tailored financial solutions to ports, MSMEs, startups, and other stakeholders.

Economy

Sagarmala Finance Corporation Limited

Website Link

Test Your Knowledge

Student Resources


M Question 1	⏱ 0
Consider the following statements with respect to Sagarmala Finance Corporation Limited: 1. It is India’s first Non-Banking Financial Company (NBFC) in the maritime sector. 2. It will bridge crucial financing gaps and offer sector-specific financial solutions. Which of the statement(s) given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2