SEBI launches GARUDA, cuts AIF approvals to 10 working days
SEBI just rolled out the GARUDA framework, making it way faster to launch Alternative Investment Funds (AIFs) in India.
Now, if all documents are in order and SEBI has no objections, eligible AIFs can go live within 10 working days, down from nearly a month before.
That's a big win for anyone looking to get investment funds off the ground quickly.
Merchant bankers to check fund compliance
GARUDA brings in independent merchant bankers to check fund documents for compliance, which should cut down on paperwork hassles and lower costs, especially for smaller fund managers.
SEBI still keeps an eye on things during the 10-working-day window to make sure rules are followed.
Experts say this move helps fund managers act faster on new opportunities, though any increase in new entrants is expected to be gradual and depend on investor demand, fundraising capability, and attractive opportunities.