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Mr P. Chidambaram

Our Bureau

New Delhi, Oct. 26 The Union Finance Minister, Mr P. Chidambaram, on Friday indicated that it was too early to assess the impact of SEBI’s measures on capital inflows even as he felt that such steps helped achieve greater transparency in the capital market.

“The idea was to moderate capital inflows without hurting investments. Some measures have been taken by the SEBI.

“We would like to wait and see their impact on capital inflows.

“As a by-product, SEBI has also achieved the objective of greater transparency. It’s a welcomed by-product,” Mr Chidambaram told reporters here.

The SEBI Board on Thursday placed a ban on issuance of P-Notes with derivatives as underlying by Foreign Institutional Investors (FIIs) and their sub-accounts.

The capital market regulator had also announced that only “regulated entities” would be allowed to invest in India through the P-Note route, as specified in the FII regulations of 2004.

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