MUMBAI, April 30 -- The Securities and Exchange Board of India (Sebi) has eased the approval process for alternative investment funds (AIFs), allowing managers to launch schemes faster and deploy capital more efficiently.

In a circular issued Thursday, the regulator introduced a 30-day fast-track route for AIFs launching new schemes. Managers can proceed with launches and circulate private placement memoranda (PPMs) to investors 30 days after filing an application with Sebi, unless the regulator intervenes.

For first-time schemes, launches can begin after Sebi registration or the completion of the 30-day period from filing, whichever is later. Any regulatory comments issued during this window must be incorporated before launch, retainin...