<p>Dropping for the fourth consecutive month, investments through participatory notes (P-notes) in the Indian capital market stood at Rs 76,611 crore at the end of September.</p>.<p>P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly after going through a due diligence process.</p>.<p>Investments through P-notes have been continuously declining since June, according to the latest data from markets regulator Sebi.</p>.<p>The total value of P-note investments in the Indian markets -- equity, debt, and derivatives -- declined to Rs 76,611 crore till September-end, from Rs 79,088 crore at August-end, showed the data.</p>.<p>At the end of July, the Indian capital market saw a total inflow of Rs 81,082 crore via P-notes, a fall as compared to Rs 81,913 crore till June-end. The investment had stood at Rs 82,619 in May.</p>.<p>Of the total investments made till the end of September, Rs 50,676 crore was invested in the equities, Rs 25 crore in debt and Rs 241 crore in the derivatives segment.</p>.<p>In July, the board of Sebi has approved a proposal to rationalise the framework for issuance of P-notes -- an instrument once very popular with foreign investors.</p>.<p>The use of P-notes has been on a decline since 2017 and slumped to a nine-and-a-half year low of Rs 66,587 crore at the end of October.</p>.<p>In July 2017, markets regulator Sebi has notified stricter P-notes norms stipulating a fee of USD 1,000 that will be levied on each instrument to check any misuse for channelising black money.</p>
<p>Dropping for the fourth consecutive month, investments through participatory notes (P-notes) in the Indian capital market stood at Rs 76,611 crore at the end of September.</p>.<p>P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly after going through a due diligence process.</p>.<p>Investments through P-notes have been continuously declining since June, according to the latest data from markets regulator Sebi.</p>.<p>The total value of P-note investments in the Indian markets -- equity, debt, and derivatives -- declined to Rs 76,611 crore till September-end, from Rs 79,088 crore at August-end, showed the data.</p>.<p>At the end of July, the Indian capital market saw a total inflow of Rs 81,082 crore via P-notes, a fall as compared to Rs 81,913 crore till June-end. The investment had stood at Rs 82,619 in May.</p>.<p>Of the total investments made till the end of September, Rs 50,676 crore was invested in the equities, Rs 25 crore in debt and Rs 241 crore in the derivatives segment.</p>.<p>In July, the board of Sebi has approved a proposal to rationalise the framework for issuance of P-notes -- an instrument once very popular with foreign investors.</p>.<p>The use of P-notes has been on a decline since 2017 and slumped to a nine-and-a-half year low of Rs 66,587 crore at the end of October.</p>.<p>In July 2017, markets regulator Sebi has notified stricter P-notes norms stipulating a fee of USD 1,000 that will be levied on each instrument to check any misuse for channelising black money.</p>