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

Why in news?

• Finance Minister Nirmala Sitharaman said the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund will benefit 1.16 lakh home loan borrowers whose housing projects were stalled due to last mile funding issues.

About the fund:

• 'It is a Special Window' fund to provide priority debt financing for the completion of stalled housing projects that are in the Affordable and Middle-Income Housing sector.
• For the purposes of the fund, the government shall act as the Sponsor and the total commitment to be infused by the Government would be up to INR 10,000 crore.
• The fund is also seeking matching contributions from Banks, LIC and others to generate a total corpus of around INR 25,000 cr.
• The fund will be set up as a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI and would be professionally run.
• This fund would in turn would provide relief to developers that require funding to complete a set of unfinished projects and consequently ensure delivery of homes to the home-buyers.

Prelims Question:

SWAMIH, recently in news , is a scheme related to the field of:
(a)Affordable housing
(b)Health Insurance
(c)Technical Education
(d)Steel Welding industry

Answer to Prelims question