Investments into P-notes surge in October

Tue Dec 18, 2012 4:37pm IST

Kashmiri women walk past Indian currency notes stapled to a garland at a market in Srinagar November 20, 2006. REUTERS/Fayaz Kabli/Files

Kashmiri women walk past Indian currency notes stapled to a garland at a market in Srinagar November 20, 2006.

Credit: Reuters/Fayaz Kabli/Files

Related Topics

Stocks

   

Reuters Market Eye - The total value of participatory notes into Indian equity and debt, including derivatives, rose to 176 trillion rupees in October, its highest since February, according to Securities and Exchange Board of India (SEBI) data.

Check link link.reuters.com/bag74t

The rise in investments via P-notes marks a significant recovery from the fiscal 2012-13 year-low in May when the value fell to 1.29 trillion amid worries the government was looking to tax foreign investors under the General Anti Avoidance Rule (GAAR).

Participatory notes are offshore instruments issued by foreign institutional investors to overseas investors who want to invest in India without having to directly register with Indian capital markets regulator SEBI.

However, the deferral of the implementation of GAAR, valuations in equities and the governent's fiscal and economic reforms have revived investments into P-notes.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

RBI Policy Review

RBI Policy Review

RBI keeps rates on hold, warns on inflation  Full Article 

Monsoon Season

Monsoon Season

India's 2014 monsoon ends with double-digit rain deficit .  Full Article 

Cleanliness Drive

Cleanliness Drive

Modi orders officials to clean loos on Gandhi's birthday.  Full Article 

Bid to Boost Trading

Bid to Boost Trading

RBI takes small steps to deepen markets.  Full Article 

Car Recall

Car Recall

Maruti Suzuki says to recall 69,555 cars.  Full Article 

China Factory Data

China Factory Data

China final HSBC PMI steady in September on stronger global demand but risks remain  Full Article 

Oil Demand

Oil Demand

India's thirst for oil grows even as China cuts back  Video 

EBay Divests PayPal

EBay Divests PayPal

EBay to spinoff PayPal in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage