New Click Here to Play Diwali Spin and Win and Get Huge Discounts

    Register

    Question

    Recently which of the following stock exchange has received approval from the Securities Exchange Board of India (SEBI) to set up a social stock exchange (SSE)?

    A Bombay Stock Exchange Correct Answer Incorrect Answer
    B Calcutta Stock Exchange Correct Answer Incorrect Answer
    C India International Exchange Correct Answer Incorrect Answer
    D Metropolitan Stock Exchange Correct Answer Incorrect Answer
    E National Stock Exchange of India Correct Answer Incorrect Answer

    Solution

    BSE r eceived approval from the Securities Exchange Board of India (SEBI) to set up a social stock exchange (SSE) as a separate segment of the BSE. In its circular, the regulator had specified minimum requirements to be met by a non-profit organisation (NPO) for registration with SSE, disclosure requirements for NPOs raising funds through the issuance of zero-coupon zero principal instruments and put in place annual disclosure requirements that need to be made by NPOs on such exchanges.The listed NPO will have to submit a statement of the utilisation of funds to SSE, as mandated under SEBI's rules, within 45 days from the end of the quarter and an Annual Impact Report (AIR) within 90 days from the end of financial year.

    Practice Next