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Special Window for Affordable & Mid-Income Housing (SWAMIH)

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 & Mid-Income Housing (SWAMIH):


Centre’s Special Window for Affordable & Mid-Income Housing (SWAMIH) has completed its first residential project.

  • The residential project — Rivali Park in suburban Mumbai — is the first housing project in India to have received funding under the SWAMIH Fund.

About SWAMIH Fund:

  • The SWAMIH Fund was launched by Sitharaman in November 2019.
  • 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 Fund is 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 Fund is the Secretary, Department of Economic Affairs, Ministry of Finance.

 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.


Prelims Link:

  1. What is an Alternative Investment Fund? Types?
  2. Investment Manager of the SWAMIH Fund?
  3. Sponsor of the fund?
  4. Who can invest?
  5. What will it be used for?

Sources: PIB.