Economy
Investments via P-Notes stood at Rs 1.78 lakh crore at March-end
Chennai, Investments through Participatory Notes or P-Notes route in the Indian stock markets touched Rs 178,437 crore at the end of March 2017, the market regulator Securities and Exchange Board of India (SEBI) said on Thursday.
 
According to the data released by SEBI, total investments in equity, debt and derivatives via P-Notes shot up to Rs 178,437 crore at the end of March 2017, up from Rs 170,191 crore at the end of February this year.
 
The investment figure via P-Notes route at the end of January 2017 was Rs 175,088 crore.
 
P-Notes are instruments issued by Foreign Institutional Investors (FII) to overseas investors, who want to invest in the Indian stock markets without registering themselves with the SEBI.
 
According to SEBI data, the investments in equity and debt excluding derivatives at the end of March 2017 stood at Rs 124,277 crore, with equity alone attracting Rs 111,803 crore.
 
The P-Note investments in debt and derivatives at March-end stood at Rs 12,475 crore and Rs 54,160 crore, respectively.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

RAVI RAM PV

3 months ago

Everyone who matters, is interested in keeping this farce of p-notes going. Suits many in 'suits'.

RBI's latest moves precursors to Ind-AS implementation: Jefferies
Mumbai, The RBI's latest notifications to force banks to report deviations from prescribed asset quality norms and under-provisioning for bad loans, and take in higher standard asset provisioning across risky sectors, particularly in telecom, point to the implemention of Indian Accounting Standard (Ind-AS) next year, a US consultant said on Wednesday.
 
"Starting March 2017, banks will need to report differences, if they exist, if (a) additional provisioning assessment exceeds 15 per cent of reported net income, or (b) additional incremental NPL (non-performing loans) identified exceeds 15 per cent of reported NPL increase for the reference period," American investment banker Jefferies said in a research note. 
 
"It's a good start, but unfortunately, banks will currently only report the AQR (asset quality review) differences of FY16, which is not convincing enough that banks will come clean," it said. 
 
The non-performing assets (NPAs), or bad loans, of state-run banks at the end of last September rose to Rs 6.3 lakh crore (almost $100 billion), as compared to Rs 5.5 lakh crore at the end of June 2016. 
 
"Banks are to take in higher standard asset provisions, and build higher provisions on telecom sector owing to current distressed financials," Jefferies said regarding a related RBI notification.
 
"In our opinion, this rule is perhaps an early experiment starting with the telecom sector, as banks move towards Ind-AS implementation wherein they need to work with 'Excepted Loss' behavior instead of 'Realized Loss," it said. 
 
Ind-AS are the accounting standards applicable for companies in India.
 
The RBI on Tuesday cautioned banks about loans given to companies in sectors in difficulty such as telecom that may witness rising bad loans.
 
Banks were asked to put in place a board-approved policy for making provisions for standard assets at rates higher than the regulatory minimum, based on evaluation of risk and stress in various sectors.
 
"The telecom sector is reporting stressed financial conditions, and presently interest coverage ratio for the sector is less than one," an RBI notification said.
 
"Board of directors of the banks may review the telecom sector latest by June 30, 2017, and consider making provisions for standard assets in this sector at higher rates so that necessary resilience is built in the balance sheets should the stress reflect on the quality of exposure to the sector at a future date," it said.
 
"Besides, banks should also subject the exposure to the sector to closer monitoring," it added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Deposits under PMGKDS can be made till April-end
New Delhi, The central government and the RBI on Wednesday allowed time till April 30 for "commensurate deposits" by citizens who have declared their unaccounted income under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) that offered non-interest bearing deposits for four years.
 
The scheme had black money holders opportunity to declare their unaccounted income under till March 31.
 
"The effective date of opening of the Bonds Ledger Account shall be the date of receipt of deposits by the Reserve Bank of India from the authorised banks; wherein the due tax, surcharge and penalty has been received till March, 31, 2017," a Finance Ministry statement said.
 
The RBI said in a release: "It has now been decided by the Government of India, in case of persons who had filed the declaration by depositing tax, surcharge and penalty under PMGKDS on or before March 31, to allow extension of time till April 30 for banks to upload details into RBI's E-Kuber system and for depositors to make commensurate deposits, if not already done."
 
"The date of deposit and uploading would not be extended beyond April, 30 2017."
 
The deposits could be made in the form of cash or in an account with bank or post office or specified entity, with a tax, surcharge and penalty totaling up to 49.90 per cent.
 
Mandatory deposit of 25 per cent of the undisclosed income will be made in Pradhan Mantri Garib Kalyan Yojana (PMGKY). The deposits are interest free and have a lock-in period of four years.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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