National Stock Exchange of India (NSE) has received approval from the Securities Exchange Board of India (SEBI) to set up a Social Stock Exchange (SSE) as a separate segment, an official statement said Friday.
The idea of the SSE was first proposed by Union Finance Minister Nirmala Sitharaman in her Union Budget speech for 2019-20. According to Sitharaman, the SSE will work for listing social enterprises and voluntary organisations working for the realisation of a social welfare objective, and it will help these organisations to raise capital as equity, debt or as units like a mutual fund.
“NSE has always played a pivotal role in capital formation for the country. We are working towards the launch of Social Stock Exchange as a segment on NSE. We believe this platform will immensely benefit the social enterprises contributing to the Sustainable Development Goals,” Ashishkumar Chauhan, MD, CEO, NSE said.
NSE is the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data.
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