The Finance Ministry has declared zero coupons zero principal instruments (ZCZP) as securities

Subject :Economy

Section: Fiscal Policy

The new notification is a follow up to Finance Minister Nirmala Sitharaman’s announcement in the FY20 Budget to initiate steps towards creating an electronic fund raising platform — a social stock exchange — under the regulatory ambit of SEBI for listing social enterprises and voluntary organisations working for the realisation of a social welfare objective so that they can raise capital as equity, debt or as units like a mutual fund

What is Zero Coupon-Zero Principal instrument?

Zero Coupon-Zero Principal instrument means an instrument issued by a not-for-profit organisation which shall be registered with the social stock exchange (SSE) segment of a recognised stock exchange in accordance with the regulations made by the Securities and Exchange Board of India (SEBI).
This move is certainly going to benefit both — one who wants to donate and one who wants to raise money for social causes. Take the example of a corporate which is mandated to use part of profit under Corporate Social Responsibility (CSR), it will get an instrument to invest but not for return.
The SEBI board approved a framework for SSE through which ZCZP can be issued. It has been proposed that the minimum issue size of ZCZP will be 1 crore while the minimum application size shall be Rs.2 lakh.