GARUDA

Boost: Sebi plans green channel for quicker AIF rollouts - All you need to know

Markets regulator Sebi on Monday proposed a new green-channel mechanism "GARUDA" for alternative investment funds (AIFs) to launch schemes to 10 working days of filing their placement memorandums from the current 30 days, in a bid to speed up the deployment of capital by them, PTI reported. AIF Rollout Upon Document Acknowledgement, aims to streamline the Processing of Placement Memorandums (PPMs) filed with Sebi and further ease fundraising by AIFs. Under the proposal, regular AIF schemes would be allowed to launch within 10 working days of filing the PPM with Sebi through a merchant banker, unless the regulator raises objections.