Social Audit Network & EQUIPPP, to tap the Rs 25,000 crores CSR space with innovative solutions!
Hyderabad, February 9th, 2023: Social Audit Network (SAN), India, the Indian chapter of Social Audit Network, UK; has signed an MoU with EQUIPPP Social Impact Technologies Ltd. Its flagship offering “EQUIPPP Insights Exchange (ix)”, is an AI/ML-enabled marketplace for insights and impact assessments with end-mile connection spread across ~30,000 villages in India. The MoU was signed by Mrs. Latha Suresh, Director, on behalf of SAN India and Mr. Sreenivasa Chary Kalmanoor, Director, on behalf of EQUIPPP, recently in Hyderabad.
This agreement facilitates EQUIPPP to provide tech tools to SAN India for a period of two years on mutually agreed terms. SAN, India and EQUIPPP will jointly leverage mutual competencies and offer innovative solutions in the Rs 25,000 crores CSR spending space. The solutions range from impact assessment and social audit services to entities including obligated CSR agencies, non-profits, and social stock exchange ecosystems, through the tech platform of EQUIPPP Insights Exchange (ix).
The services being offered jointly by SAN, India and EQUIPPP, hold great significance considering SEBI’s specification to social enterprises raising funds using Social Stock Exchange. These details are required under listing regulations of the SEBI circular numbered SEBI/HO/CFD/PoD-1/P/CIR/2022/120 released on September 19, 2022. Such social enterprises are expected to disclose Annual Impact Report within 90 days from the end of the financial year. This report has to specifically capture the qualitative and quantitative aspects of the social impact generated by the entity and where it is applicable, for the funds raised on SSE.
About Social Audit Network India (SAN India):
Social Audit Network, India is a project of the MSDS Trust founded by Mr. PN Devarajan, Former Group President and Chief Executive Officer of Reliance Industries, Former Chairman and Managing Director at Indian Drugs and Pharmaceuticals Limited (IDPL) in 1999.
Social Audit Network, India is the Indian chapter of Social Audit Network, UK and was launched in India in 2010. SAN UK evolved the Social Accounting and Audit framework which helps understand the impact Organizations have on the People and the Planet. SAN India worked with multiple Social Enterprises, CSR Agencies, Non-Profits, Government Projects, SROI reports and other International Projects.