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Mumbai, Sept 29 The High Level Co-ordination Committee on financial markets, which is meeting on Wednesday, will assess the impact of the current global financial turmoil on India.

The HLCC consists of representatives from the RBI, SEBI, IRDA and the Finance Ministry.

The meeting would discuss the impact of the overseas financial crisis on Indian financial institutions, the foreign exchange situation in the country, as well as the issue of participatory notes (P-notes) by foreign institutional investors, said sources associated with HLCC.

P-Notes are instruments issued by FIIs to other foreign investors who are not registered with SEBI.

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