The Securities and Exchange Board of India (Sebi) has proposed a 'green-channel' mechanism to streamline the launch process for alternative investment funds (AIFs). Under this new framework, AIFs can initiate new schemes just 10 working days after filing their placement memorandum (PPM) with Sebi, a significant reduction from the previous 30-day requirement. For first-time schemes, launches can occur from the date of registration or after 10 working days from filing, whichever is later. Additionally, AIFs targeting accredited investors and angel funds will be allowed to file PPMs directly, bypassing the need for a merchant banker. This initiative is part of Sebi's ongoing reforms aimed at enhancing the AIF industry's efficiency and responsiveness to market demands. The regulator noted that these changes acknowledge the sector's rapid growth and the sophistication of accredited investors, who can assess investment risks independently. Despite these relaxations, Sebi will maintain post-facto scrutiny of scheme documents to ensure compliance and address any irregularities in disclosures.