SEBI, NISM and IICA sign MoU to strengthen corporate governance and capital markets
New Delhi, May 21
The National Institute of Securities Markets, set up by the Securities and Exchange Board of India, and the Indian Institute of Corporate Affairs under the Ministry of Corporate Affairs, have signed a Memorandum of Understanding to strengthen corporate governance, ESG frameworks and capital markets in India.
According to the Ministry of Corporate Affairs, the MoU, signed in Mumbai on May 19, 2026, aims to enhance capacity building, research, policy development and training across securities markets and corporate regulation, with a focus on building a stronger and more transparent financial ecosystem.
Under the agreement, the two institutions will jointly design certification courses, executive education modules and training programmes, including specialised programmes for SEBI officials and other regulatory and financial sector professionals.
The collaboration also seeks to support MSME access to capital markets, improve sustainability disclosures, strengthen investor education and promote evidence-based regulatory research in emerging areas.
The initiative comes amid growing focus on corporate governance standards, ESG (Environmental, Social and Governance) reporting and responsible business practices, which are becoming increasingly important for India's financial markets and global investment flows.
"The focus is to build a performance-driven corporate governance ecosystem that enables MSME access to capital markets, strengthens sustainability disclosures and promotes evidence-based research in emerging regulatory domains," said Tuhin Kanta Pandey, Chairman, SEBI.
The MoU also covers areas such as insolvency frameworks, valuation standards, board governance, responsible investing, sustainable finance, market integrity and emerging regulatory challenges.
It was signed by representatives of both institutions in the presence of senior officials, including NISM Director Sashi Krishnan, and marks a long-term partnership between SEBI, NISM and IICA.
According to the institutions, the collaboration will include joint research studies, curriculum development, policy support initiatives, faculty exchange programmes and the organisation of conferences to share best practices.
According to the ministry, the partnership is aimed at creating a more inclusive, well-regulated and knowledge-driven financial ecosystem that supports India's growing capital markets and strengthens investor confidence.
— ANI
Reader Comments
Interesting move. I work in ESG consulting and India's sustainability reporting landscape is still quite fragmented. Having NISM and IICA jointly develop frameworks could bring much-needed standardization. But the real test will be enforcement. Will SEBI actually penalize companies that greenwash? Let's see.
This is good news for MSMEs especially. My father runs a small manufacturing unit and listing on the stock exchange seems like a distant dream due to compliance costs. If these institutes can design simpler frameworks for smaller companies, it could unlock so much capital. Hope it's not just another bureaucratic MoU that gathers dust. 🙏
All fine words, but I've seen too many such partnerships. The real issue is the lack of independent directors with actual domain knowledge. Board governance is a joke in many Indian companies. Hope this MoU leads to practical training, not just another certificate you can buy from a coaching center. Focus on quality over quantity.
As someone who follows Indian markets from overseas, this is a step in the right direction. ESG is becoming non-negotiable for global fund managers. If India wants to compete with China and Southeast Asia for FDI, having a robust governance ecosystem is critical. The faculty exchange and joint research components are smart long-term investments.
I'm a CA student and this makes me hopeful. The curriculum for company secretaries and auditors needs a major upgrade to handle modern challenges like cyber risk and climate disclosures. If NISM and IICA bring global best practices into their courses, it will benefit all of us entering the profession. But let's ensure these courses are affordable for students
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