SEBI launches GARUDA, cutting AIF approval to 10 working days
Business
SEBI just rolled out GARUDA, a fresh system to make Alternative Investment Fund (AIF) approvals much faster.
Now, most AIFs can kick off within 10 working days of submitting their paperwork, much quicker than the old 30-day wait.
GARUDA speeds fund launches, eases filings
With GARUDA, money can reach startups, private credit, and infrastructure projects much sooner.
New funds get to launch on the date registration is granted or after the expiry of the 10-working-day period following placement memorandum submission, whichever occurs later.
Plus, if you're running an Accredited Investor or Angel Fund scheme, you can skip the merchant banker step for filings.
Remember that managers still need to stick to SEBI's rules and keep things transparent.