P-Notes Are A Corrupt Instrument: Subramanian Swamy
  • Elizabeth George
  • Sep 25 2013

September 25: Participatory notes need to be banned, says Subramanian Swamy, Former Commerce Minister and Senior BJP Leader. P-notes have ruined the Indian system by routing ill-gotten money, he says, adding that, “Let the stock market wind up; we can transfer capital without a stock market.” I cannot believe the kind of loot taking place in the name of financial instruments, he adds. We’ve been incentivizing corrupt Hawala users rather than common savers, he says.