The Hon’ble Finance Minister as part of the Budget Speech for FY 2019-20 had proposed to initiate steps towards creating a social stock exchange, under the regulatory ambit of Securities and Exchange Board of India, for listing social enterprise and voluntary organizations.
Pursuant to initial discussions with various stakeholders, SEBI has decided to constitute a working group under the Chairmanship of Shri Ishaat Hussain (Director, SBI Foundation; Ex-Director (Finance) Tata Sons Limited). The other members of the working group shall be:
i. Shri TV Mohandas Pai, Chairman of Manipal Global Education; Ex-Director (Infosys)
ii. Ms. Roopa Kudva, MD, Omidyar Network India
iii. Shri Amit Chandra, Chairman, Bain Capital (Private Equity firm); noted philanthropist
iv. Dr. Saurabh Garg, Principal Secretary to Government of Odisha
v. Dr. Shamika Ravi, Director of Research, Brookings India; Member, PM’s Economic Advisory Council
vi. Shri Vineet Rai, – Founder and MD, Aavishkaar Venture Management Services Private Limited
vii. Representative from Ministry of Corporate Affairs
viii. Representative from Department of Economic Affairs
ix. Shri Hemant Gupta, MD &CEO, BSE Samman
x. Representative from NSE
xi. Shri Girish G. Sohani, President, BAIF Development Research Foundation
xii. Shri Amarjeet Singh, Executive Director (SEBI)
xiii. Ms. Ruchi Chojer, CGM (SEBI)
xiv. Shri Jeevan Sonparote, CGM (SEBI) – Convener
The working 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.
Securities Exchange Board of India
[Press Release dt. 19-09-2019]