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Investments via P-notes at a five-year low in July

Mon, Sep 11 2017, 01:16 PM

Participatory notes or offshore derivative instruments in equity, debt and derivatives fell to a five-year low of Rs1.35 lakh crore in July 2017, as compared to Rs2.12 lakh crore in July last year. Recently, the market regulator notified stricter rules for P-notes by levying a $1,000 regulatory fee on each offshore derivative instrument (ODI) subscriber to prevent misuse of this channel. P-notes are instruments issued by registered foreign institutional investors to overseas investors who want to invest in the Indian stock markets without registering themselves with the market regulator.