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.
Trending On Reuters
Next year, Dr. Ketan Desai is slated to head the World Medical Association (WMA), guardian of the Hippocratic Oath. The WMA is standing by him, even as he battles conspiracy allegations in two Indian courts. Desai has been facing allegations that he conspired in 2009 to have the Medical Council recommend that a private medical college be allowed to add more students. Full article