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News:Securities and Exchange Board of India(SEBI) has constituted a working group on Social Stock Exchanges (SSE).
Facts:
- In Budget 2019,Finance Minister had proposed a social stock exchange for social enterprises and voluntary organisations working for social welfare to help them raise capital through debt, equity and mutual fund.
About the working group:
- The working group has been constituted under the chairmanship of Ishaat Hussain,Director,SBI Foundation.
- The group shall examine and make recommendations with respect to possible structures and mechanisms, within the securities market domain to facilitate the raising of funds by social enterprises and voluntary organizations.
Additional information:
Social stock exchange:
- Social stock exchange is a platform that allows investors to buy shares in a social enterprise that has been allowed by the exchange.
- The aim of this initiative is to help social and voluntary organisations which work for social causes to raise capital as equity or debt or a unit of mutual fund.
- SSE already exist in countries such as Singapore,UK among others. These countries allow firms operating in sectors such as health, environment and transportation to raise risk capital.
