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Sebi issues stricter KYC, disclosure regime for P-Notes

Sebi issues stricter KYC, disclosure regime for P-Notes

Markets regulator Sebi today put in place a stricter KYC and disclosure regime for Participatory Notes to make it tougher to use these offshore instruments without disclosing the money-trail and details of their users.

RBI tightens hedging norms for FIIs

FII must have a mandate from the P-Note or Offshore Derivative Instrument holder for the purpose (of hedging), RBI said in a notification.

P-Note investors pull out Rs 1 trillion from India

As a result, the quantum of money invested through these P-Notes has hit its rock-bottom levels of just about 10 percent of total FII (foreign institutional investment) holdings -- which used to be more than 50 percent a few years ago.