SEBI needs to clearly define who a retail consumer is and ensure that this definition is inclusive enough that it accounts for the universe of consumers that are susceptible to the mis-selling of financial products and services
P-notes are issued by registered foreign portfolio investors to overseas players who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through due diligence.
The latest inflow follows net infusion of Rs 1.6 lakh crore in the previous five months (February-June). In January, they had pulled out Rs 3,496 crore.
Foreign investors have pulled out close to USD 3 billion from the Indian capital market this month so far on lingering concerns over the government's demonetisation decision and fears of a rate hike by the US Federal Reserve.
Asset base of portfolio managers, who mostly manage investments or provide advisory services to high net worth individuals (HNIs), stood at Rs 9.85 lakh crore in September 2015.
For the lone foreign wolf on Indian shores, Standard Chartered, the finance minister’s proposal to allow two-way fungibility in Indian Depository Receipts (IDRs) announced in Budget 2012 came as a major boost.