India's stock market has come up with a novel way to raise funds for social causes: the social stock exchange.
The Securities and Exchange Board of India on Monday asked social enterprises that raise funds through the exchange to submit an annual impact report for the financial year 2023-24 by Oct.
31, reports the Times of India.
The report "captures the qualitative and quantitative aspects of the social impact generated by the social enterprise," per Sebi.
The idea behind the social stock exchange is that not-for-profit social enterprises (NPOs) can raise funds by selling stock to the general public on the exchange.
The report must cover the NPO's significant activities, intervention, and programs, per the Times.
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