A meeting is to be held today between the board of directors of market regulator Securities Exchange Board of India (Sebi). The purpose is to discuss changes to the participatory notes (P-notes) framework.

Sebi chairman UK Sinha on Thursday said the regulator is in discussions with the industry on tightening the KYC (know your client) mechanism for participatory notes or P-Notes and will take a final decision on it soon.

Speaking on the sidelines of the Asia Pacific Real Estate Association Summit, Sinha said, “SIT made some suggestion for us to make out some improvement in P-notes. We had our series of discussions and decision will be taken soon on this. Suggestion is there to get more information on P notes besides KYC norms which is already there in our present regulation.”

Sinha added that overseas investors have been consulted on the changes that are being muted and they seem to be on board with it.These apart, market regulator may also ease the norms of Infrastructure Investment Trust (InvITs). “We have received four proposal on Invits , two of those proposal has been cleared by us. The rest two has certain shortcomings related to minor procedural things,” said Sinha.