MUMBAI: Capital markets regulator SEBI has restructured its advisory committees pertaining to social stock exchange. The panel is responsible for advising Sebi on the issues pertaining to regulatory framework for social enterprises, suggests the regulator on the matters to be taken up for changes in legal framework for simplification and transparency in systems governing such social enterprises.
Social Stock Exchange
With regard to social stock exchange, SEBI has inducted Anil Kumar SG, Founder & CEO, Samunnati Financial Intermediation & Services;
Santosh Jayaraman, Global Head- Sustainability, HCL Tech;
Pushpa Aman Singh, Founder and CEO of GuideStar India; and
Hemant Gupta, Managing Director at BIL Ryerson Technology Startup Incubator Foundation, among others.
The 18-member committee will now be headed by R Balasubramaniam, chairman of Grassroots Research and Advocacy Movement (GRAAM).
It was earlier chaired by Ishaat Hussain (Director at SBI Foundation and former Finance Director at Tata Sons).
TV Mohandas Pai, Chairman of Manipal Global Education and former director of Infosys; Roopa Kudva, MD of Omidyar Network India; and Girish G Sohani of BAIF Development Research Foundation are no longer part of the committee.
In July, the capital markets regulator notified a framework for the social stock exchange to provide social enterprises with an additional avenue to raise funds. The social stock exchange is a novel concept in India and such a bourse is meant to serve the private and non-profit sectors by channelling greater capital to them.
