Participatory notes (P-notes) are poised for a comeback, this time through the International Financial Services Centre (IFSC), Gift City, Gujarat, after nearly a decade of being discouraged by Indian regulators.
Some leading global banks that currently issue P-notes from global jurisdictions, such as Singapore, are considering shifting to Gift City as the special economic zone offers both tax sops and regulatory clarity, a senior stock exchange official said.
The official added that these banks are also receiving interest from ultra-wealthy global traders and smaller hedge funds interested in taking exposure to India without having to set up shop in India.
Some of the banks have already started pitching these instruments to their clients and are expected to launch full-scale issuances by the end of the year.
Bu hikaye Mint Mumbai dergisinin June 14, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin June 14, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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