Big market for not for profit organisations to raise funds
On SEBI board approving reduction in minimum application size and minimum issue size on social stock exchange, Joshi said already close to Rs 25,000-30,000 crores is spent by Indian corporations on CSR. So there is a big market for NPO to raise funds. So there is an opportunity for those who want to do social work and make an impact.
Change in nomenclature from 'social auditor' to 'social impact assessor' is not just replacement of words but overall change in the way of working of NPO. It's not just about verifying whether utilisation was done for the purpose but it is more so that whether after the utilisation/after the interference done by not for profit organisations (NPO) what is the impact on the underprivileged or beneficiaries, says Makarand M Joshi, Founder MMJC & Associates.
SEBI board meeting recently approved a proposal to change the nomenclature of 'social auditor' to 'social impact assessor'.
On SEBI board approving reduction in minimum application size and minimum issue size on social stock exchange, Joshi said already close to Rs 25,000-30,000 crores is spent by Indian corporations on CSR. So there is a big market for NPO to raise funds. So there is an opportunity for those who want to do social work and make an impact. There is now no dearth of funds for good work.
The SEBI Board approved measures to provide impetus to fund raising by NPOs on the Social Stock Exchange.
This includes reduction in minimum issue size in case of public issuance of Zero Coupon Zero Principal Instruments (ZCZP) by NPOs on SSE from Rs 1 crore to Rs 50 lakh.
Reduction in minimum application size in case of public issuance of ZCZP by NPOs on SSE from Rs 2 lakh to Rs 10,000, thereby enabling wider participation of subscribers including retail.
It also approved changing the nomenclature of 'Social Auditor' with 'Social Impact Assessor' to provide comfort to NPOs and convey a positive approach towards the social sector.
Permitting NPO to disclose past social impact report in the fund raising document as per their existing practice subject to disclosure of key parameters such as number of beneficiaries, cost per beneficiary and administrative overhead.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
07:36 PM IST