Redefining Finance For A Better Tomorrow: Navigating The Landscape Of India’s Social Stock Exchange
- IJLLR Journal
- Jan 25, 2024
- 1 min read
Siddhi Jayesh Mehta, SVKM’s Pravin Gandhi College of Law, Mumbai
ABSTRACT
The genesis of the social enterprise concept in India predates the country's globalization in 1991. The article offers a comprehensive analysis of India's Social Stock Exchanges (SSEs), encompassing their emergence, regulatory frameworks, financial instruments, and global integration. It explores fundraising avenues for Non-Profit Organizations (NPOs), emphasizing unique features like Zero Coupon Zero Principal Bonds. Corporate governance norms, the significance of SSEs in impact financing, and the integration of Environmental, Social, and Governance (ESG) measures are also discussed. Global examples illustrate the evolution of SSE platforms, and the article concludes with insights from the historic listing of the SGBS Unnati Foundation, acknowledging challenges and emphasizing the ongoing evolution of SSEs in response to legal and operational dynamics.
Keywords: Social Stock Exchanges, Impact Financing, Zero Coupon Zero Principal Bonds, Corporate Governance Norms and Global Integration