The National Skill Development Corporation (NSDC) has registered on the Social Stock Exchange (SSE). This is an effort by the Government of India to boost organizations working for underserved communities. The SSE is a unique initiative, allowing social enterprises and voluntary organizations to access a wider capital pool. NSDC CEO Ved Mani Tiwari met with Mr. Hemant Gupta, MD, BIL Ryerson Technology Startup Incubator Foundation, and Head, BSE Social Stock Exchange.
Finance Minister Smt. Nirmala Sitharaman proposed the idea of an electronic fund-raising platform, Social Stock Exchange, under the regulatory ambit of SEBI for listing social enterprises and voluntary organizations working for a social welfare objective. This platform would bring together social enterprises and donors, facilitate funding and growth of social enterprises, and ensure robust standards of social impact and financial reporting.
The Social Stock Exchange (SSE) is a separate segment of the existing Stock Exchange that can help social enterprises raise funds from the public. It will act as a medium between social enterprises and fund providers to select entities that are creating measurable social impact and reporting it. Ved Mani Tiwari, CEO, NSDC and MD, NSDC International said, “Furthermore, listing on the SSE will also increase transparency and accountability, allowing the NSDC to showcase its social impact and attract more investments in the future.”
