SWAMIH was announced on 6th November 2019 by the Finance Minister Nirmala Sitharaman . The Union Cabinet cleared a proposal to set up a ‘ Special Window ’ in the form of AIF to provide priority debt financing for completion of stalled housing projects . SBICAP Ventures was assigned the role of Investment Manager for this special window . 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 . It is a government backed fund, set up as a Category - II AIF ( Alternate Investment Fund ) debt fund registered with SEBI ( Securities and Exchange Board of India ) , launched in 2019 .
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