Sebi pro­poses wider av­enues to raise so­cial cap­i­tal

Hindustan Times (Jalandhar) - - HTBUSINESS - Jayshree P Upad­hyay jayshree.pyasi@livemint.com

MUM­BAI: So­cial wel­fare en­ter­prises and non-prof­its could soon get to raise so-called so­cial cap­i­tal on a trans­par­ent elec­tronic plat­form, aid­ing the process of re­build­ing liveli­hoods rav­aged by the coro­n­avirus pan­demic.

Ac­cord­ing to a Se­cu­ri­ties and Ex­change Board of India (Sebi) panel, con­ven­tional cap­i­tal that pri­ori­tises fi­nan­cial re­turns will not be suf­fi­cient in a post­covid world. While the idea to cre­ate a so­cial stock ex­change (SSE) plat­form that would list non-profit or­ga­ni­za­tions (NPOs) and so­cial wel­fare or­gan­i­sa­tions as a trans­par­ent fund­ing mech­a­nism was first pro­posed in the 2019-20 bud­get, the panel had faced hur­dles on how will these firms be val­ued.

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