SWAMIH Fund: UPSC Daily Important Topic | 8 March 2023
SWAMIH Fund
✅The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is a social impact fund specifically formed for completing stressed and stalled residential projects.
✅The Fund is sponsored by the Ministry of Finance, Government of India, and is managed by SBICAP Ventures Ltd., a State Bank Group company.
✅The fund considers first-time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints and NPA accounts, and even projects where there are litigation issues
It is considered the lender of last resort for distressed projects.
✅The Fund’s presence in a project often acts as a catalyst for better collections and sales primarily in projects that were delayed for years.
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