Topics Covered: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and bodies constituted for the protection and betterment of these vulnerable sections.
Special Window for Affordable and Mid Income Housing (SWAMIH):
Context:
81 projects have been approved so far under the Special Window for Affordable and Mid Income Housing (SWAMIH) fund.
- The approval, under the SWAMIH Investment Fund I, will enable the completion of nearly 60,000 homes across India.
About SWAMIH:
In November 2019, the Union Cabinet cleared a proposal to set it up.
- 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.
InstaLinks:
Prelims Link:
What is an Alternative Investment Fund? Types?
Investment Manager of the SWAMIH Fund?
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- Sponsor of the fund?
- Who can invest?
- What will it be used for?
Sources: pib.
