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UPSC 2019: Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of the Indian stock market without registering themselves directly?
(a)Certificate of Deposit
(b)Commercial Paper
(c)Promissory Note
(d)Participatory Note
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Not attemptedCorrect Answer: (d) Participatory Note
Participatory Notes (P-Notes) are offshore derivative instruments issued by SEBI-registered Foreign Portfolio Investors (FPIs/FIIs) to overseas clients who wish to take exposure to Indian securities without obtaining direct registration in India. Certificates of Deposit, Commercial Paper and Promissory Notes are unrelated domestic instruments. ([edukemy.com](https://edukemy.com/blog/upsc-prelims-2019-question-67/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2019 Indian Economy question?▼
The correct answer is option (d): Participatory Note. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Financial Markets & Capital Markets question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2019, GS Paper 1, as Question 67. It falls under Indian Economy > Financial Markets & Capital Markets.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Financial Markets & Capital Markets?▼
UPSC has asked 39 questions from Financial Markets & Capital Markets (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.