Stock Market: The National Stock Exchange (NSE) said that it has received the final approval of market regulator Sebi to introduce social stock exchange (SSE) as a separate category on its platform.
National Stock Exchange: After The Bombay Stock Exchange and the National Stock Exchange, now a new kind of stock market social stock exchange is going to start. The National Stock Exchange (NSE) said it has received final approval from market regulator Sebi to introduce social stock exchange (SSE) as a separate category on its platform. The final approval was received on February 22, nse said in a statement.
The Social Stock Exchange, which is being conducted in a number of awareness programmes, will provide new opportunities to social enterprises to finance social initiatives. It will also provide them with foresight and bring in more transparency in the raising and use of funds by social enterprises. "To create awareness, we are conducting several programmes and operating social enterprises at various stages of entry into the stock market," NSE Managing Director (MD) and Chief Executive Officer (CEO) Ashish Kumar Chauhan said.
He urged the social enterprises to remain in touch with NSE to understand the mechanism and benefits of registration and placement of the SSE category. Under this rule, any social enterprise, non-profit organization (NPO) or for profit social enterprise (FPI), which states its main purpose as social, can be included in it. For eligible NPOs, the first step towards admission is to register in the SSE category.