What Is ZCZP? Zero Coupon Zero Principal (ZCZP) is a fundraising instrument that a not-for-profit organisation (NPO) can issue after registering on India's Social Stock Exchange (SSE). As the name suggests, it carries no coupon (interest) and no principal repayment — the subscriber does not get their money back, and does not earn a return on it. Legally, ZCZP is recognised as a "security" under the Securities Contracts (Regulation) Act, 1956, but economically it functions as