| The lure of the much-feared participatory notes, through which hedge funds now invest in the Indian stock markets, may soon wane. |
| The Securities and Exchange Board of India (Sebi), the capital markets regulator, has for the first time directly invited hedge funds to register with it and participate in the Indian stock markets without the cover of participatory notes. |
| Participatory notes are often seen as tools for money laundering and there have been numerous calls, including from the Reserve Bank of India, to curtail them. |
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