Fast-track processing of AIF placement memoranda streamlines scheme launch, disclosure compliance, and responsibility of merchant bankers and managers. A fast-track mechanism is introduced for processing placement memoranda of non-LVF AIF schemes. AIFs may launch schemes after 30 days of filing with SEBI, or from registration in the case of a first scheme, subject to compliance with any SEBI comments before launch and a first close within 12 months. Merchant Bankers and Managers remain responsible for disclosure accuracy, supporting filings, prescribed disclaimer language, and compliance with SEBI requirements.