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SWAMIH Fund for stalled housing projects

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    15th May, 2021

The first stalled project under Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund was completed and the key were handed over to the buyers virtually.

Context

The first stalled project under Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund was completed and the key were handed over to the buyers virtually.

About the SWAMIH Fund

  • This special window is known as the “SWAMIH Investment Fund I”.
  • It works in the form of an alternative investment fund.
  • It is Rs 25,000 crore, fund to help complete over the stalled housing projects.
  • It was started in 2019.
  • Administration: The Department of Economic Affairs under the Ministry of Finance administers the scheme.
  • Need: Many real estate projects across the country were stalled due to fund crunch as they were not getting any fund from banks and industries.

Significance: SWAMIH Fund I will benefit 1.16 lakh Indian families.

    • It will provide employment to construction workers.
    • It will give impetus to the allied industries such as steel and cement.
    • It will improve portfolios of banks and NBFCs.
    • It will help to significantly improve the economic sentiments of the nation.
  • Management: The investment manager of the fund is SBICAP Ventures Ltd.
    • It is an asset management company which is a wholly-owned subsidiary of SBI Capital Markets Ltd,.

Verifying, please be patient.

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