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Securities and Exchange Board of India (SEBI) has inducted R. Balasubramaniam, founder and chairman of GRAAM, Mysuru, as a member of the Technical Group on Social Stock Exchange (SSE). The committee has been shaped to develop pointers for organising the Social Stock Exchange in India.
The committee will develop a framework for on-boarding non-profit organisations and non-profit enterprises in addition to prescribe disclosure necessities on financials and governments. The group will even prescribe disclosure necessities relating to efficiency and spotlight the features associated to social influence and social audit. Dr. Balasubramaniam’s membership is with impact from October 7.
The committee is chaired by Harsh Kumar Bhanwala, former chairman, NABARD. The choice for organising the technical group was taken following the advice of the working group on SSE. Earlier, the working group, chaired by Ishaat Hussain, had submitted its report on June 1, a launch from GRAAM stated right here.
The working group outlined its imaginative and prescient and made high-level suggestions that included participation of non-profit organisations (NPOs) and for-profit enterprises (FPEs) on social inventory exchanges, topic to committing to minimal reporting necessities.
“We strongly feel that the induction of Dr. Balasubramaniam, who founded the Swami Vivekananda Youth Movement (SVYM), will strengthen the committee with his vast experience of building, developing and managing organisations working in the not-for-profit sector, besides the development sector experience with studying and teaching at the world’s leading schools of policy and development, including Harvard and Cornell universities. He has also been a special investigator for Karnataka Lokayukta, in addition to holding membership and consulting positions in government bodies and commissions, academic boards and development agencies, including the World Bank,” stated GRAAM govt director Basavaraj R.
Dr. Balasubramaniam embodies a mix of grassroots and macro views on improvement and coverage by way of his multi-faceted expertise of greater than three many years, he stated within the launch.
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