Nothing relevant in the newspapers today. Term of the day: Pa | ECONOMY by VIVEK SINGH

Nothing relevant in the newspapers today.

Term of the day:
Participatory Notes (P-Notes): A participatory note is an instrument issued by a registered foreign institutional investor (FII) to an overseas investor who wishes to invest in Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India (SEBI).

Actually when FIIs/FPIs invest in Indian stock market (bonds/shares both) then they need to register with SEBI and a lot of formalities are required. But once they register and invest in Indian stock market then they (FII/FPI) can pass on these investments to other foreign/overseas investors in the form of P-Notes. These other foreign/overseas investors do not need to register with SEBI but can indirectly invest in Indian stock market through FPIs/FIIs.