Why govt should smile at Participatory Notes

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Ensconced in the existing regime is an instrument called Participatory Note (PN), legally enshrined as Offshore Derivative Instrument(ODI). Ensconced in the existing regime is an instrument called Participatory Note (PN), legally enshrined as Offshore Derivative Instrument(ODI).
SummaryTo ensure a steady steam of foreign inflows, a ready solution is to bless P-Notes as a legit route for investment

is not tainted. This is how investments are carried out in several parts of the world. Should we be any different? The two-hour goal for investment in India and its competitive edge would be realised.

The author is a civil servant and ex-ED, Sebi. Views expressed are personal.

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