India's social stock exchange has received a boost allowing companies to direct part of their corporate social responsibility spending through the platform. The change aims to increase funding for non-profit organizations and improve transparency in the social sector.
The Ministry of Corporate Affairs has amended rules to enable this funding route. Companies can now channel a portion of their CSR spending via the NSE Social Stock Exchange, also known as the India Social Stock Exchange or SSE.
The National Stock Exchange has filed its draft prospectus with SEBI. This step advances its planned Initial Public Offering, expected to reach around ₹30,000 crore.
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Dozens of investors including public sector banks and insurers are positioned to benefit from the upcoming National Stock Exchange IPO. State Bank of India alone anticipates proceeds exceeding ₹5,000 crore.
An upcoming MSCI index rebalancing could direct around 2.3 billion dollars in passive investment flows to Indian equities. The global index provider plans to announce the changes after market close on August 12.
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Indian stock markets saw a sharp selloff on Friday as Sensex and Nifty fell more than 1 percent. The decline was driven by passive fund flows tied to MSCI index reshuffles.