The circular updates the framework for the Social Stock Exchange (SSE). It modify existing regulations on capital issuance and listing requirements. It specifies that not-for-profit organizations (NPOs) seeking to register with the SSE must be registered in India under one of several legal forms, such as a charitable trust or a Section 8 company. It also revises the annual disclosure requirements for NPOs, mandating detailed reports on governance, financials, and social outreach. Furthermore, social enterprises that raise funds via the SSE are now required to submit an Annual Impact Report (AIR) to the exchange, which must be assessed by certified Social Impact Assessors.