SEBI removes restrictions on P-Notes

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Posted: 2008-10-06 16:57:48+05:30 IST
Updated: Oct 06, 2008 at 1657 hrs IST

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Share, asset prices may further fall: WEF Rate cut hopes spark investor fancy for gilt funds MFs see outflow of Rs 47,000 cr in Oct Right time now to invest in gold, say experts

Market regulator SEBI on Monday decided to lift curbs on the issuance of the Participatory Notes by the Foreign Institutional Investors, a move that may revive the stock markets troubled by the global financial meltdown.

The regulator will remove the 40 per cent restriction for issuance of PNs for both cash and derivative segments, SEBI Chairman C B Bhave told reporters after the Board meeting in Mumbai.

SEBI has also decided to undertake a comprehensive review of FII framework in the backdrop of global developments triggered by ongoing global turmoil.

The regulator had imposed the restrictions on the PNs in October last year amid excessive speculation.

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SEBI removes restrictions on P-Notes

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