Participatory Notes (P-Notes)

Investments through participatory notes (p-notes) in Indian markets declined in January due to cautious foreign investor behaviour amid high valuations.

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Brokers and foreign institutional investors (FIIs) must register with the Securities and Exchange Board of India.

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Participatory notes allow non-registered investors to invest in the Indian market.

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Participatory notes, referred to as P-notes or PNs, are derivative instruments with Indian shares as the underlying assets.

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Participatory notes are popular investments due to the investor remaining anonymous.

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