Securities & Exchange Board of India has issues a draft document proposing tightening of noose around the "FII" inflow into the country off the back of P-Notes.
As discussed earlier, this route is no doubt used by the mafia, underworld, corrupt politicians and likely hawala operators under the guise of "FII" investment. The total anonymity in such transactions opens a Pandora's Box, as Occams' Razor suggests, the simplest explanation is often the truth.
If my vote counts, please re-consider banning P-Notes in totality. If not, then please make this draft into a directive asap.
Thank You SEBI, RBI & FM...please save India from this menace.
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