FPIs pump record Rs 39,640 crore into Indian G-Secs in June so far

Foreign Portfolio Investors pumped a record Rs 39,640 crore into Indian government bonds in June so far, driven by tax exemptions on capital gains for eligible sovereign debt investments and the RBI's expansion of the Fully Accessible Route. The measures have fueled expectations of India's inclusion in Bloomberg's global aggregate index, lifting overall confidence in Indian debt. The rupee appreciated from a record low of 96.96 per dollar in late May to close at 94.40, while the 10-year benchmark bond yield eased 20 basis points to 6.76%.