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India's capital markets have taken a big step toward becoming a more efficient place to do businessand it's all thanks to a new social stock exchange.
The Social Stock Exchange, which launched last month, is the brainchild of the country's Securities and Exchange Board of India, or Sebi, which is trying to bring financial inclusion to the country's younger, lower-income population, Bloomberg reports.
It's also trying to make it easier for investors to invest in social causes, such as environmental conservation and rural youth employment.
Five non-profits have already listed on the exchange, raising nearly $1 million through zero-coupon zero-principal bonds, per the Wall Street Journal.
One of those non-profits, Zerodha, works with rural youth in the Sundarbans mangroves, and investors will soon be able to easily donate to it, the Times of India reports.
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