India considers reducing taxes on bond investments by foreigners, Bloomberg News reports
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India is considering reducing taxes on bond investments by foreign investors to align with global norms and attract more inflows. This recommendation from the Reserve Bank of India is under serious consideration by the Finance Ministry, aiming to address the depreciation of the rupee, which recently hit a record low against the U.S. dollar. Following this news, the 10-year benchmark bond yield decreased by 2 basis points to 7.03%.
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