Enacted in August by India’s parliament, the Companies Act requires every listed company to have at least one female director within a year, while others reporting minimum revenue of 3 billion rupees ($49 million) have three years to comply.
Almost half of the top 100 companies traded on BSE Ltd., including the biggest two by market value, don’t have a single female member, according to data compiled by Bloomberg. As many as 6,000 women directors will be needed as firms look to fill the seats…
Just off the heels of Stocktoberfest where we heard about the rise of women in finance from DailyWorth’s Amanda Steinburg, Bloomberg breaks news of the Bombay Stock Exchange Companies Act. What excellent timing.
Read more: Women Sought on Boards as Stiletto Groups Grow: Corporate India (Bloomberg)