New Delhi, Nov 27: The change in nomenclature from ‘social auditor’ to ‘social impact assessor’ is not just a replacement of words but an overall change in the way of working of NPOs. 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 the 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.