India Said to Ease Foreigners’ Debt Buying Rules as Rupee Slides

India plans to further relax rules for overseas investors buying sovereign debt in a bid to boost capital inflows as the rupee fell to a record, said two finance ministry officials with direct knowledge of the matter.

The government may scrap the need for foreign funds to buy bidding permits while allowing them to purchase directly when there’s an offering, emulating a mechanism used to sell corporate bonds, the officials said, asking not to be identified before a public announcement. At present, foreign investors need to acquire permits to enable them to buy rupee-denominated government securities.