The NASDAQ stock exchange in the US may soon require all companies listed on the bourse to include at least one female board member as well as one member from a racial minority group or from the LGBTQ community on their board of directors.
Daily Current Affairs Quiz 2020
Key-Points
There also are in place diversity requirements from Indian companies and their compliance with these rules.
All public companies which are listed on stock exchanges and companies with either a paid-up capital of Rs 100 crore or annual turnover over Rs 300 crore are required to have at least one woman board member under the Companies Act.
The Securities and Exchange Board of India (Sebi) further requires, since April 1, 2020, that the top 1000 listed companies by market capitalisation have a woman board member who is also an independent director.
According to data compiled by Institutional Investor Advisory Services (IiAS), 17 per cent of directors in the Nifty 500 companies were women, as of the end of the last fiscal, with 44 per cent of Nifty 500 companies having two or more women directors.
The report by IiAS noted that only 3 per cent of Nifty 500 companies had no women directors.
