SBI & Finance Ministry Plan Priority Status for Real Estate AIF
State Bank of India (SBI) and Finance Ministry (MoF) are exploring for a legal frame where the suggested Alternative Investment Fund (AIF) for strengthening delayed housing projects will have the first charge on assets and cash flow of companies getting funding.
That will finance 1,600 delayed housing projects carrying 4,58,000 housing units across the country. The move is intended for generating employment opportunities as well as improving the demand for cement, iron and steel industries.
SBI, the country’s largest lender and its arm SBI Capital Market are playing a key role in arranging the fund, and are approaching to other banks and financial institutions to participate in the AIF – regulative languages for privately combined agencies like venture capital, private equity, and real estate funds. For continue reading, click this link
