Government has said the current regulatory framework on Participatory Notes, P-Notes is strict and robust and there may not be any change required in the rules at the moment. Talking to reporters in New Delhi, Minister of State for Finance Jayant Sinha said, the capital markets regulator Sebi has over the years strengthened the KYC norms associated with P-Notes. Minister's comments assume significance as a Supreme Court appointed Special Investigation Team, SIT on black money had earlier in July, asked capital markets regulator Sebi to review its regulations on P-Notes and identify their end-users. P-Notes are issued by foreign portfolio investors registered with Sebi to other overseas investors who want to take a position in the Indian markets without any direct registration for trading in Indian markets. Finance Minister Arun Jaitley had in July said the government is mindful of the impact on foreign investment in case of any action against P-Notes.