Empowering Social Change: Insights from the Social Stock Exchange Event

16 August 2023

A joint event was held on the Social Stock Exchange segment, hosted by Prashanthi Balamandira Trust, National Stock Exchange of India Ltd, and Aditya Birla Sun Life AMC Ltd. The Social Stock Exchange provides financing avenues, visibility, and transparency for social enterprises' initiatives.

The event drew participants from the financial and banking sectors, as well as the NGO community. Mr. Ashishkumar Chauhan, MD and CEO of National Stock Exchange of India Ltd, presided over the event alongside Sadguru Sri Madhusudan Sai from Prashanthi Balamandira Trust, Dr. R Balasubramaniam from the Human Resources, Capacity Building Commission, Govt. of India, and Mr. A Balasubramanian, MD and CEO of Aditya Birla Sun Life AMC Ltd.

In the FY 2019-20 Budget Speech, Finance Minister Smt. Nirmala Sitharaman proposed the concept of a "Social Stock Exchange," regulated by SEBI, to list social enterprises and voluntary organizations dedicated to social welfare.

During the event, a panel discussion focused on the Social Stock Exchange's various dimensions, particularly the perspective of donors. Panelists included Ms. Dhruvi Shah, Executive Trustee and CEO of Axis Bank Foundation; Sri Shailesh Haribhakti, Chairman of Shailesh Haribhakti and Associates; Sri Raman Malik, GM Admin and CSR at BPCL; Sri J N Gupta, Founder and MD of Stakeholders Empowerment Services; Sri Anuj K Agarwal, COO of ICICI Foundation; and Dr. Harish K Ahuja, Sr VP of National Stock Exchange. The discussion was moderated by Sri Nikunj Dalmia, Managing Editor of ET NOW and ET NOW Swadesh.

Prashanthi Balamandira Trust, led by Sadguru Sri Madhusudan Sai, has applied for registration on the Social Stock Exchange. The trust believes that adhering to regulatory compliance enhances credibility and early adoption aids brand positioning and awareness.

Prashanthi Balamandira Trust holds Consultative Status with the United Nations' Economic and Social Council (ECOSOC) since June 2023, contributing to collective action for a sustainable world.

The event symbolized a collective effort united by a common goal – to drive positive change transcending boundaries and uplifting communities.