In News
- SWAMIH has so far provided final approval to about 130 projects with sanctions worth over Rs 12,000 crore.
- In three years since its inception in 2019, the Fund has already completed 20,557 homes and aims to complete over 81,000 homes in the next three years across 30 tier 1 and 2 cities.
About 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.
Source: IE
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