Profit

FM pacifies crestfallen market

PUBLISHED ON: October 17, 2007 | Duration: 2 min, 03 sec

  
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Minutes after the carnage at the bourses, the government said it is not in favour of banning Participatory Notes. "We are not in favour of banning participatory notes. We have not banned PNs but have simply placed a cap on the proportion of money coming through PNs vis-à-vis overall assets under management or overall derivative position," Finance Minister P Chidambaram said.
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