The value of participatory notes, known as ‘P-Notes’ or offshore derivative instruments, in India has steadily rebounded to INR63,228 crore (US$8.6 billion) in July after hitting to a record low of INR48,006 crore in March, according to data from the Securities and Exchange Board of India (SEBI).
The climb is a result of India’s bull markets during the period, and indicates ‘renewed hopes of an early revival together with efficient risk management control adopted by the regulator to control market volatility’, Sujit Kadakia (pictured) , head of India office at Société Générale Securities India told SRP. “Société Générale’s (P-Notes) flow has been largely in line with the overall market growth,&rd
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