Government of India | Ministry of Ports, Shipping & Waterways

Empowering India's Maritime Sector

Interest subvention support on eligible maritime-sector project loans under the Government of India's IIF Scheme, implemented by SMFCL.

Government of India | Ministry of Ports, Shipping & Waterways

Subvention Made Simple

Track applications, validations and claim disbursement in one digital window.

Government of India | Ministry of Ports, Shipping & Waterways

Strengthening India's Maritime Gateway

Interest subvention for eligible maritime-sector projects — apply, get validated by your lender, and track SMFCL approval and claim release through a single digital window.

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Borrowers Onboarded
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Lenders Onboarded
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Applications Processed
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Subvention Released

How the IIF Scheme Works

From application to disbursement — one workflow shared by Borrowers, Lenders and SMFCL.

1

Register

Create your Borrower account and complete GST-verified onboarding.

2

Apply

Submit your loan application with project and lender details.

3

Lender Validation

The lender reviews and validates the application first.

4

SMFCL Approval

SMFCL then reviews and approves the validated application.

5

Subvention

Claims are processed and interest subvention is released.

Complete Scheme Workflow

Every step from borrower registration to release of subvention, and who is responsible for it.

Borrower Lender SMFCL
Onboarding & Application
  1. 1
    Borrower registration & SMFCL approval
    The borrower registers with GST-verified details; SMFCL reviews and approves the registration.
    Borrower
  2. 2
    Add lender information
    The borrower adds the bank / NBFC from which the loan has been availed.
    Borrower
  3. 3
    Create loan application
    The borrower submits the loan application with project details and supporting documents.
    Borrower
Review & IIF Tagging
  1. 4
    Lender review & validation
    The lender reviews the application and documents and validates them first.
    Lender
  2. 5
    SMFCL review & IIF tagging
    SMFCL reviews the validated application and tags it under the IIF Scheme through its three-person approval chain.
    SMFCL
Compliance
  1. 6
    Borrower compliance
    The borrower submits the compliance declarations and documents required under the scheme.
    Borrower
  2. 7
    Lender validation of compliance
    The lender validates the compliance submitted by the borrower.
    Lender
  3. 8
    SMFCL compliance acceptance
    SMFCL reviews the validated compliance and accepts it.
    SMFCL
Claim & Release
  1. 9
    Borrower claim
    The borrower raises the interest subvention claim with the transaction summary and statements.
    Borrower
  2. 10
    Lender claim validation
    The lender verifies and validates the claim.
    Lender
  3. 11
    SMFCL claim approval
    SMFCL reviews and approves the claim and the amount to be released.
    SMFCL
  4. 12
    Release of subvention
    The approved subvention is released and recorded with its UTR (payment reference).
    SMFCL

About the Scheme

The Interest Incentivization Fund (IIF) Scheme is a Government of India scheme of the Ministry of Ports, Shipping & Waterways, implemented by Sagarmala Finance Corporation Limited (SMFCL) as the implementing agency. Eligible borrowers receive interest subvention on qualifying loans.

The IIF Portal digitizes the entire lifecycle — application, lender validation, compliance and claim disbursement — into one transparent workflow for every stakeholder.

Transparent Validation
Every status change tracked end-to-end.
Faster Turnaround
Digital workflow replacing manual paperwork.
Multi-Lender Network
Works across empanelled banks and NBFCs.
Direct Disbursement
Subvention released straight to lenders.

Guidelines & Documents

Scheme guidelines, circulars and user guides.

PDF

IIF Portal User Guide

Step-by-step guide for Borrowers and Lenders on using the portal.

Open / Download

News & Updates

Latest announcements from SMFCL.

No news published yet. Check back soon.

Frequently Asked Questions

No FAQs published yet.

Ready to apply for IIF Subvention?

Register as a Borrower or log in to track your application today.