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    Question

    P-Notes are used by foreign entities to invest in Indian

    markets, via registered foreign investors, without registering themselves. Who regulates P-notes in India?
    A RBI Correct Answer Incorrect Answer
    B SEBI Correct Answer Incorrect Answer
    C PFRDA Correct Answer Incorrect Answer
    D IRDA Correct Answer Incorrect Answer
    E Ministry of Finance Correct Answer Incorrect Answer

    Solution

    P-notes or participatory 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 with SEBI. Registered brokers and FPIs issue the participatory notes and invest on behalf of the unregistered foreign investors. These are regulated by SEBI.

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