Information Repository
Also written IR · Information Repository (IR) · Information Repositories
An SSE participant that enumerates, standardises and verifies information on NPOs, keeping a reliable electronic database so donors and investors can compare them; NGO DARPAN is India's public example.
In plain language
For-profit companies have annual reports, stock prices, credit ratings and analysts. NPOs have almost none of that. The workbook puts it bluntly: there is "a dire lack of robust information on NPOs, unlike in the for-profit sector."
An Information Repository (IR) fills that gap. It collects information on NPOs — financials, governance, impact, activities — checks it, and presents it in a searchable, comparable form. A donor choosing between two education NGOs in Odisha can then compare like with like.
In the Social Stock Exchange ecosystem, IRs are listed among the stakeholders. The workbook calls them "a very important category of participants."
How it works
Three functions (Chapter 2, 2.2.4):
| Function | What it means |
|---|---|
| Enumeration | Listing active NPOs and their activities |
| Standardisation | Setting a standard reporting format for NPOs and helping them report |
| Verification | Due diligence on what NPOs report |
Objective: to create and maintain a database of reliable, accurate and timely information, in electronic form, giving investors transparent and comparable information. IRs typically work as aggregators and provide a searchable database.
India's public repository — NGO DARPAN.
- An online platform by NITI Aayog, in collaboration with the Ministry of Home Affairs and the Ministry of Electronics and IT
- Has aggregated self-declared information on over 320,000 NPOs
- Lets NGOs register for a unique ID, essential for government grants
- Helps NGOs access government schemes and funding, and lets the public and government bodies verify NGO details for due diligence
India is described as one of the few emerging economies with an information repository from within the social sector.
Private repositories named in the workbook: GuideStar India, GiveIndia, Credibility Alliance, among others.
Two roles in the SSE. IRs build confidence in NPOs by providing credible, standardised information. They also act as a "feeder" to the SSE, helping its players find and fund high-quality NPOs. Separately, Information Repositories are one of the stakeholder groups represented on the Social Stock Exchange Governing Council.
A worked example
Illustrative scenario.
Nirmal Infra Ltd has a CSR budget of ₹3 crore and wants to fund child-nutrition work in Maharashtra. Its CSR head has a shortlist of four NPOs.
- Check NGO DARPAN. Two of the four hold a DARPAN unique ID; one does not. Since DARPAN aggregates information on over 320,000 NPOs and its ID is essential for government grants, the missing ID is a flag. The NSE SSE registration form also asks for the NGO Darpan portal ID.
- Check a private repository. On a platform such as GuideStar India, the remaining NPOs' three-year financials, board composition and programme data sit in the same format — the standardisation function. One NPO shows administrative overheads at 38% of spending; the other at 14%.
- Check whether it is on the SSE. The 14% NPO is registered on NSE SSE, so it also files annual disclosures and a self-certified Annual Impact Report.
Nirmal Infra funds the registered NPO: ₹2.7 crore as a CSR grant and ₹30 lakh through that NPO's ZCZP issue. The ZCZP amount is exactly 10% of the ₹3 crore budget, the workbook's cap.
The repository did not make the decision. It made the decision possible, by turning four unrelated sets of documents into four comparable profiles — the enumeration, standardisation and verification the workbook describes.
Why NISM asks about it
Chapter 2 (2.2.4) covers Information Repositories: their three functions, objective, NGO DARPAN and the private repositories. Chapter 2 (2.2) lists them among SSE stakeholders, and 2.2.6 includes them in the SGC's membership. Expect a question on the three functions (enumeration, standardisation, verification), on who runs NGO DARPAN, and on the "feeder" role.
Common exam traps
- The three functions are enumeration, standardisation and verification. "Rating", "fund raising" and "assessment of social impact" are distractors.
- NGO DARPAN is by NITI Aayog, with MHA and MeitY. It is not run by SEBI or the stock exchanges.
- DARPAN information is self-declared. Over 320,000 NPOs is the workbook's figure.
- An IR does not assess social impact. Independent verification of impact reports is the Social Impact Assessor's job.
- IRs feed the SSE; they do not list NPOs on it. Registration and listing are the exchange's functions.
- GuideStar India, GiveIndia and Credibility Alliance are private repositories. The public one named is DARPAN.
Where this is taught
Free preparation for NISM Series XXIIIRelated terms
- Social Stock ExchangeA separate segment of a recognised stock exchange on which Not for Profit Organisations and For Profit Social Enterprises register and list securities to raise money for social impact, under SEBI rules.
- Not for Profit OrganisationA social enterprise that is a charitable trust, charitable society or Section 8 company (or other entity SEBI specifies); it can register on an SSE and raise money mainly through ZCZP instruments.
- Social Impact AssessorAn individual registered with an SRO (under ICAI or another SEBI-specified agency) who has passed the NISM certification and holds a valid certificate; performs independent verification of impact reports.
- Social Stock Exchange Governing CouncilThe council every Social Stock Exchange must set up to oversee its functioning, with balanced stakeholder representation and guidance on registration, fund raising and disclosures by social enterprises.