Friday, October 26, 2007

P-notes versus common investor

Interestingly, until now, it is easier for P-note participants from dubious sources (terror, hot money, slush funds) to enter the Indian market than it is for the average Indian citizen.

A nice piece by R.Vaidyanathan in the Hindu Businessline.

Participatory Notes are a slap on the face of every citizen who is an investor. To invest in shares one has to fill up umpteen forms and provide proof of residence, PAN number, and so on. But for PN investors, the system is totally silent, even on basic information. Why not have confidence in the India story and realise that we can get funds with addresses without offering such anonymity...

So, while the spider web catches the flies, the sparrows and crow flies right through...

The situation gets better post the Sebi meeting yesterday.

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