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Date: 13/05/2025

Ships as security for banks in the offing

Indian banks are being encouraged to accept ships as collateral for shipbuilding loans - a bold move to turbocharge India’s maritime sector, it is learnt. With a policy push being in the works, plans are afoot to finalise the contours of the Maritime Development Fund and Shipbuilding Building Financial Assistance Policy 2.0. The Ministry also wants to ensure Indian banks start accepting ships as collateral to push manufacturing activities and get the ecosystem in place as policy intervention happens.  In most cases, banks seek other assets as security, like real estate, which has been a deterrent for companies. As the infrastructure status comes in, some of these financing issues will be sorted out too, said a report. 
 
Source: Exim News Service: New Delhi, May 12



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