BSE gets Sebi nod for Social Stock Exchange as a separate segment

The BSE on Friday announced that it has got SEBI's nod for Social Stock Exchange (SSE) as a separate segment.

"This is to inform that, SEBI has granted its in-principle approval to BSE for introducing SSE as a separate Segment on BSE," BSE said in its filing.

Sebi notified rules for SSE in July this year to provide Social Enterprises (SE), both non-profit organisations(NPO) and for-profit social enterprises to raise funds. Thereafter Sebi came out with a detailed framework for SSE in last month specifying minimum requirements for organisations in both categories.

PTI reported that the idea of SSE was first floated by Finance Minister Nirmala Sitharaman in her Budget speech for the financial year 2019-20.

However, there are several organisation that would not be counted as will not be identified as a social enterprise. These include corporate foundations, political organisations, religious organisations, infrastructure and housing companies, except affordable housing among others.