India, May 12 -- India's alternative investment fund sector has experienced rapid development, which has resulted in more placement memorandum documents being submitted to the Securities and Exchange Board of India (SEBI). The Securities and Exchange Board of India established the GARUDA mechanism (Green-Channel: AIF Rollout Upon Document Acknowledgement) to improve the document verification process, which enables faster approval of eligible AIF schemes.

What is GARUDA? The term "GARUDA" stands for Green-Channel: AIF Rollout Upon Document Acknowledgement that proposed green channel mechanism for processing placement memorandums filed by alternative investment funds with SEBI. Its key features:

The process allows eligible AIF schemes to ...