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Corporate, political outfits can’t list on Social SE
May 07, 2021
SEBI panel lists norms, funding modes and eligible entities
Fund-raising by organisations working towards eradicating hunger, poverty, malnutrition or promoting health care, sanitation, safe drinking water and education in India is set to get easier.
On Thursday, the Securities and Exchange Board of India (SEBI) unveiled the recommendations of a committee it had set-up to propose norms for listing on a Social Stock Exchange (SSE), a novel concept for social work announced by the Finance Minister in her Budget speech.
A non-profit organisation (NPO) and a for-profit enterprise (FPE) can list on the SSE provided they can demonstrate social intent and impact. But the panel, led by Harsh Bhanwala, former Nabard Chairman, has recommended keeping out corporate foundations, political or religious activities, professional or trade associations, infrastructure and housing companies (except affordable ....

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