The Reserve Bank of India (RBI) has issued a press release on October 24, 2025, regarding the enlisting of SWAMIH Investment Fund-I under the exemption category of Reserve Bank of India (Investment in AIF) Directions, 2025.
According to para 7(b) of the Directions dated July 29, 2025, the RBI, in consultation with the Government of India, may exempt certain Alternative Investment Funds (AIFs) from the scope of the Directions, except for paragraph 5 ("General Requirement"), and the previous circulars dated December 19, 2023 and March 27, 2024.
It has been decided to enlist SWAMIH (Special Window for Affordable and Mid-Income Housing) Investment Fund-I under the exemption category. The Direction ibid has been amended, including the addition of an Annex containing the list of exempted AIFs. The Annex will be updated in consultation with the Government of India.
The Press Release number is 2025-2026/1375. Brij Raj, Chief General Manager, is the contact person. RBI website is www.rbi.org.in/hindi and email is helpdoc@rbi.org.in. The Department of Communication's phone number is 022-2266 0502. The department is located at Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001.
Key Entities Referenced
Reserve Bank of India (Investment in AIF) Directions, 2025: The primary directions being amended to allow SWAMIH Investment Fund-I under an exemption category.
SWAMIH Investment Fund-I: Special Window for Affordable and Mid-Income Housing Investment Fund-I; the entity being enlisted under an exemption category.
captioned Directions dated July 29, 2025: Directions that are referred to in the context of exemptions.
circulars dated December 19, 2023: Previous circulars relevant to the current matter.
circulars dated March 27, 2024: Previous circulars relevant to the current matter.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
October 24, 2025
Enlisting SWAMIH Investment Fund-I under exemption category of Reserve
Bank of India (Investment in AIF) Directions, 2025
In terms of para 7(b) of the captioned Directions dated July 29, 2025, it has been
stipulated that the Reserve Bank may, in consultation with the Government of India,
by a notification, exempt certain Alternative Investment Funds (AIFs) from the scope
of the above Directions (except for paragraph 5 – “General Requirement”), and the
previous circulars dated December 19, 2023 and March 27, 2024 issued on the
matter.
In this regard, it has been decided to enlist SWAMIH (Special Window for
Affordable and Mid-Income Housing) Investment Fund-I under the above specified
exemption category. Accordingly, the Direction ibid has been suitably amended,
including addition of an Annex containing the list of exempted AIFs.
The Annex will be updated, as and when required, in consultation with the
Government of India.
(Brij Raj)
Press Release: 2025-2026/1375 Chief General Manager