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Journalism of Courage
Investments into Indian shares through participatory notes P-Notes,a preferred route for HNIs and hedge funds from abroad,hit an 11-month low of Rs 1.47 lakh crore in June.
According to the latest data released by the Securities and Exchange Board of India Sebi,the total value of P-Note investments in Indian markets equity,debt and derivatives declined to Rs 1,47,498 crore at the end of June after hitting a six-month high of Rs 1.68 lakh crore in May. The June figure has reached the lowest level since July 2012,when the cumulative value of such investments stood at Rs 1.29 lakh crore.
P-Notes,mostly used by overseas HNIs high net-worth individuals,hedge funds and other foreign institutions,allow them to invest in Indian markets through registered foreign institutional investors FIIs,while saving on time and costs associated with direct registrations.
