SWAMIH SCHEME

SWAMIH SCHEME

Subject : Government Schemes

Context : Centre’s SWAMIH—Special Window for Affordable and Mid-Income Housing—scheme seems to have been hit by the lockdown and the slowdown in construction due to the labour shortage.

Concept :

About SWAMIH:

• SWAMIH Investment Fund has been formed to complete construction of stalled, RERA-registered affordable and mid-income category housing projects which are stuck due to paucity of funds.
• The fund was set up as a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI.
• The Investment Manager of the Fundis SBICAP Ventures, a wholly-owned subsidiary of SBI Capital Markets, which in turn is a wholly-owned subsidiary of the State Bank of India.
• The Sponsor of the Fundis the Secretary, Department of Economic Affairs, Ministry of Finance, Government of India on behalf of the Government of India.

Who will be the investors of the fund?

• AIFs created/funded under the Special Window would solicit investment into the fund from the Government and other private investors including cash-rich financial institutions, sovereign wealth funds, public and private banks, domestic pension and provident funds, global pension funds and other institutional investors.