The National Institute of Securities Markets (NISM), established by the Securities and Exchange Board of India (Sebi), and the Indian Institute of Corporate Affairs (IICA), under the Ministry of Corporate Affairs, have signed a Memorandum of Understanding (MoU) to strengthen corporate governance, ESG frameworks, and capital markets in India.
MoU Signed in Mumbai
According to the Ministry of Corporate Affairs, the MoU was signed in Mumbai on May 19, 2026. The agreement aims to bolster capacity building, research, policy development, and training across securities markets and corporate regulation. The broader objective is to support a stronger and more transparent financial ecosystem.
Joint Development of Programs
As part of the agreement, the two institutions will jointly develop certification courses, executive education modules, and training programs. These will include specialized programs for Sebi officials and professionals from the regulatory and financial sectors.
Focus on MSMEs and Sustainability
The collaboration will also seek to improve MSME access to capital markets, strengthen sustainability disclosures, enhance investor education, and support evidence-based regulatory research in emerging areas.
Tuhin Kanta Pandey, Chairman of Sebi, said: "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."
Growing Importance of ESG
The initiative comes at a time when corporate governance standards, ESG (Environmental, Social and Governance) reporting, and responsible business practices are receiving increasing attention across financial markets and global investment ecosystems.
Areas of Coverage
The MoU also covers areas including insolvency frameworks, valuation standards, board governance, responsible investing, sustainable finance, market integrity, and emerging regulatory challenges.
The agreement was signed by representatives of both institutions in the presence of senior officials, including NISM Director Sashi Krishnan. It marks a long-term collaboration between Sebi, NISM, and IICA.
Research and Capacity Building
According to the institutions, the partnership will also involve joint research studies, curriculum development, policy support initiatives, faculty exchange programs, and conferences aimed at sharing best practices.
The Ministry of Corporate Affairs stated that the partnership is intended to create a more inclusive, knowledge-driven, and well-regulated financial ecosystem to support India's expanding capital markets and strengthen investor confidence.
