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Mumbai: Overseas investors bought a record ₹39,640 crore – or about $4.2 billion – of Indian government bonds in June so far, making this the strongest inflow into debt instruments for a month by some distance and easily surpassing the previous record of ₹22,005 crore, set in August 2024.

The surge came after the government and the Reserve Bank of India exempted capital gains on eligible sovereign debt investments and expanded the pool of securities under the Fully Accessible Route, measures aimed at deepening foreign participation in the domestic bond market.

The tax exemption has paved the way for increased expectations that Indian debt would be included in Bloomberg’s global aggregate index, market participants said.

“RBIs measures have alleviated concerns regarding rupee depreciation, while tax exemptions for FPIs have boosted optimism about India’s potential inclusion in Bloomberg’s global aggregate index,” said Sameer Karyatt, MD and head of trading, DBS Bank. “These factors have prompted some investors to invest proactively in India, a trend I expect to continue unless there are major shifts in the global geopolitical environment.”

Experts Advise Caution
Inflows from the coordinated regulatory and government measures, which included allowing overseas investors to buy even 30-year debt, are expected to increase India’s foreign exchange reserves that stood at $672 billion as of June 12.

The rupee, after reaching a record low of 96.96 per dollar in late May, appreciated to close at 94.40 on Thursday. The 10-year benchmark yield has eased 20 basis points since the measures were announced. The yield closed at 6.76%, CCIL data showed.
Yields and prices of bonds move in opposite directions. One basis point is a hundredth of a percentage point.”Because the rupee was so volatile and rapidly depreciating, debt investors were averse. But now there is greater confidence and investors think this is a good opportunity,” said Abhishek Upadhyay, senior economist, fixed income strategy, ICICI Securities PD. “I also expect further inflows at the end of this calendar year, as the Bloomberg index inclusion is expected,” Upadhyay said.

The inflows in June come after a muted show in FY26. Net FPI inflows in FAR bonds stood at Rs 3,546 crore last fiscal year, CCIL data showed.

However, some experts caution against extrapolating June’s strong inflows. While recent policy measures have improved the appeal of Indian government bonds, their relative attractiveness remains constrained by elevated US Treasury yields.

Samsung is preparing to shut down its long-running Messages app, ending a texting tool that has shipped on Galaxy devices since 2009 and pushing millions of users toward Google’s default messaging platform.

The company has posted a formal End of Service notice confirming that Samsung Messages will be discontinued in July 2026, with Google Messages designated as the replacement. The notice appears on Samsung’s U.S. support website, and the company is directing customers to switch their default texting app before the cutoff arrives.

While Samsung’s public messaging has stuck to the broader “July 2026” timeframe, at least one specific date has surfaced through device notifications sent directly to users. A screenshot obtained by NBC Chicago of a notice some Android users received read: “Samsung Messages is being discontinued on July 6 2026.” The notice continued: “Use Google Messages to get RCS chats with rich, expressive features, end-to-end encryption and powerful AI.”

Samsung has acknowledged that the exact shutdown date may vary depending on the device. The company is advising customers to check the Samsung Messages app itself for the precise date their service will end.

What happens when the app shuts down

Once the cutoff hits, the app won’t simply vanish from phones — but it will stop functioning as a texting tool. According to the fine print in Samsung’s notice, “sending messages via Samsung Messages on your phone will no longer be possible, except for emergency service numbers or emergency contacts defined in your device.”

The shutdown will also affect a feature some users rely on for cross-device texting. Samsung said its Message Continuity service, known as “Call & Text on Other Devices,” which lets people text from a paired tablet or PC, will also be disrupted once Samsung Messages is discontinued.

Availability of the app itself is already shrinking ahead of the deadline. Owners of the Galaxy S26 and newer devices cannot download the Samsung Messages app from the Galaxy Store at all, and once the app is formally discontinued, no other devices will be able to download it from the store either.

Not every Galaxy owner needs to worry about the change. Samsung said users running Android 11 or older operating systems are not affected by the end of service.

Why Samsung is making the switch

The move is widely viewed as part of a broader consolidation around Google’s RCS-based messaging standard, which has become the industry norm across most Android phone makers. Samsung had already stopped pre-installing its Messages app on flagship Galaxy devices back in 2024, a step that signaled the company was laying groundwork to phase the app out entirely.

Samsung has framed the change as a way to streamline the texting experience across its hardware lineup. In its end-of-service announcement, the company said the shift is meant “to maintain a consistent messaging experience on Android.” Google Messages offers RCS chat features, including read receipts, typing indicators, higher-quality photo and video sharing, and integration with Gemini-powered AI tools such as suggested replies.

Industry observers have noted that the shift is closely tied to Google’s broader push for RCS — Rich Communication Services — which functions as something of an Android counterpart to Apple’s iMessage. The change is being described less as a single dramatic shutdown and more as a phased transition.

Will old text messages transfer over?

For most users, the switch should be relatively painless when it comes to standard texts. Google Messages draws from the device’s standard SMS and MMS database, meaning older text conversations typically carry over automatically without requiring a manual export.

RCS conversations are a different story. Because RCS messages are tied to the specific app that sent and received them, conversations held over RCS within Samsung Messages may not transfer automatically, and Google has not released a dedicated tool for importing those RCS threads from third-party apps. It also remains unclear what will happen to message backups stored in Samsung’s cloud service. Samsung has not said whether cloud-stored message archives will stay accessible once the app is retired, or whether users will need to download them in advance.

Samsung is recommending that affected users back up their message history using Samsung Smart Switch or a similar backup tool before making the switch, then download Google Messages from the Play Store, set it as the default messaging app, and confirm that older conversations appear correctly before disabling the original app.

A geographic question mark

It remains unsettled whether the shutdown will extend beyond the United States. Samsung did not immediately respond to questions about whether its guidance applied globally or only to the U.S. market. Discussion among users in international Samsung community forums has reflected the same uncertainty, with some posts noting it remains unclear whether the end-of-service notice represents a global shutdown, a phased regional closure, or one limited specifically to the U.S. market for now.

Scammers are already exploiting the confusion

The transition period has also created an opening for fraud. Scammers have begun sending fake texts that exploit confused Galaxy phone owners during the messaging switch. Security researchers note that fraudulent actors frequently obtain phone numbers from data broker sites rather than guessing them, and they recommend that users be cautious of unsolicited texts referencing the app transition, avoid clicking unfamiliar links, and verify any “system” notifications directly within their phone’s settings rather than through a text message.

What users should do before the deadline

For Galaxy owners looking to get ahead of the shutdown, the recommended steps are straightforward: open Samsung Messages to check for a device-specific notice listing the exact cutoff date, back up existing SMS, MMS and RCS conversations, install Google Messages from the Play Store if it isn’t already present, and set it as the default app under the phone’s settings menu. Once switched, users are advised to open Google Messages and confirm their older threads appear correctly before removing or disabling Samsung Messages altogether.

With the deadline now confirmed for July 2026, Samsung’s decision effectively closes the chapter on one of the last major Android manufacturer-built texting apps still operating in the U.S. market, leaving Google Messages as the default standard for Galaxy device owners going forward.

Mumbai: Tax efficiency and relatively higher returns compared with traditional fixed-income products are drawing affluent investors to hybrid specialised investment funds (SIFs)-the newly-launched investment category positioned between traditional mutual funds and Alternative investment funds.

Data from ValueMetrics Technologies showed SIFs’ assets under management reached ₹13,814 crore as of May 2026 since their launch in September 2025, with ₹9,990 crore, or 72%, allocated to hybrid strategies.

The average folio size for hybrid strategies stands at ₹33.9 lakh, compared with ₹14.1 lakh for plain vanilla equity, while the overall SIF average is ₹24.3 lakh.

“We are largely seeing evolved mutual fund investors and HNIs, particularly those with prior experience investing in AIFs, participating in our hybrid strategy,” said Radhika Gupta, MD and CEO, Edelweiss Asset Management.

SIFs use strategy-driven approaches, combining debt, equity and derivatives and typically require a minimum investment of around ₹10 lakh. AIFs offer flexible, high-risk strategies for wealthy investors with a minimum investment of ₹1 crore, while mutual funds are designed for retail investors with significantly lower entry requirements.

Returns have also supported interest, with hybrid SIFs delivering about 5.3% over the past three months. Distributors said high-net-worth individuals and family offices are drawn to these strategies for their tax-efficient returns and relatively low volatility.
All available hybrid SIFs qualify for equity taxation, where investors pay 12.5% long-term capital gains tax after one year. In contrast, income from traditional deposits or pure debt funds is taxed at slab rates, typically 30% for wealthy investors, making SIFs more attractive on a post-tax basis.”Investors can expect 8-10% return from conservative hybrid SIFs, with equity taxation and low volatility,” said Sandeep Seth, CEO and Founder, SIF360.com.

Hybrid strategies typically invest across fixed-income instruments, arbitrage opportunities, covered calls, special situations such as open offers and buybacks, and a smaller allocation to long-short or options-based strategies. “As hybrid SIFs build a track record, more money could come in even from categories like income-plus arbitrage FoF for tax efficiency,” said Manuj Jain, Co-Founder, ValueMetrics Technologies. Seth added that some investors may also use these strategies to generate regular income in retirement.

Mutual fund industry officials caution that the category is new, with less than a year’s track record, and involves active use of derivatives.

SEOUL, South Korea — Samsung Electronics has confirmed the existence of the Galaxy S27 Pro through regulatory filings, adding another device to its expanding flagship smartphone series for next year.

The disclosure comes through GSMA database documents that list multiple unannounced models, including the Galaxy S27, S27+, S27 Pro and S27 Ultra. The confirmation provides the clearest indication yet of Samsung’s plans for a four-model S27 lineup in early 2027.

The Galaxy S27 Pro, identified by model number SM-S957B/DS, is expected to bridge the gap between the standard S27 models and the Ultra variant. Industry analysts anticipate it will share many specifications with the Ultra while offering a more compact design.

Design and Display Expectations

Reports suggest the Galaxy S27 Pro will feature a 6.47-inch Dynamic AMOLED 2x display, making it more pocketable than the larger Ultra model. The device is rumored to omit the S Pen stylus, differentiating it from the top-tier variant.

Samsung’s continued investment in AMOLED technology is expected to deliver improved brightness, color accuracy and energy efficiency. The Pro model’s display specifications would position it competitively against rivals in the premium segment.

The more compact form factor could appeal to users seeking flagship features without the bulk of larger devices. This strategy reflects Samsung’s efforts to address diverse consumer preferences within its premium lineup.

Camera and Performance Specifications

The Galaxy S27 Pro is anticipated to feature a sophisticated camera system including a 200-megapixel primary sensor, 50-megapixel ultrawide lens with autofocus and a 50-megapixel telephoto camera offering 3.5x optical zoom. A 12-megapixel front-facing camera would handle selfies and video calls.

Power is expected to come from Qualcomm’s Snapdragon 8 Elite Gen 6 Pro for Galaxy processor, paired with at least 12 gigabytes of RAM and 256 gigabytes of UFS 5.0 storage. A 5,000mAh battery with 45-watt or faster charging would support all-day usage.

These specifications would place the Pro model in direct competition with other premium Android flagships while maintaining Samsung’s emphasis on photography and performance.

Market Strategy and Timing

Samsung’s decision to expand its S-series lineup reflects the growing sophistication of the premium smartphone market. The Pro model would offer consumers a middle ground between standard and Ultra variants.

The company typically unveils its flagship Galaxy S series in January or February. Early 2027 would align with Samsung’s traditional launch cadence for its most important product line.

Competition from Apple’s iPhone 19 series and other Android manufacturers will intensify pressure on Samsung to differentiate its offerings. The expanded lineup provides more options for consumers seeking specific features and price points.

Industry Context

The global smartphone market continues evolving with emphasis on artificial intelligence features, advanced cameras and improved battery life. Samsung’s Galaxy S27 series is expected to incorporate significant AI enhancements across its models.

Foldable devices and other form factors have gained traction, but traditional slab phones remain the dominant category. Samsung’s strategy balances innovation with refinement of its core S-series platform.

Regulatory filings provide early insights into device development but often lack complete specifications. Final details typically emerge closer to launch through leaks and official announcements.

Consumer Implications

The Galaxy S27 Pro could appeal to users wanting flagship features without the highest price point or largest size. Its expected specifications suggest strong performance for photography, gaming and productivity.

Samsung’s software support, including extended OS updates, adds long-term value to its devices. The company’s ecosystem of services and accessories enhances the overall user experience.

Consumers will evaluate the Pro model against competing devices from Google, OnePlus and other manufacturers. Camera capabilities, battery life and software features will be key comparison points.

Future Galaxy S-Series Outlook

Samsung’s expanding S-series lineup reflects the maturation of the premium smartphone market. The Pro variant would join a growing list of specialized models targeting specific consumer segments.

The company’s commitment to innovation in displays, cameras and processors suggests continued leadership in Android flagships. Success of the S27 series could influence future product strategies.

As artificial intelligence becomes more central to smartphone experiences, Samsung’s integration of these technologies will be closely watched. The Galaxy S27 series represents an important step in this evolution.

The confirmation of the Galaxy S27 Pro provides enthusiasts and analysts with additional details to anticipate. As development continues, more information about specifications and features is expected to emerge.

Samsung’s approach to its flagship lineup balances tradition with innovation, maintaining the S-series as a cornerstone of its mobile business. The addition of the Pro model expands options while reinforcing the company’s commitment to premium devices.

California voters will decide in November whether to impose a one-time 5% tax on billionaires under a ballot measure supporters say could raise about $100 billion to help offset federal Medicaid funding cuts, despite opposition from Gov. Gavin Newsom and other state leaders.

The proposal would apply to California residents whose net worth exceeded $1 billion as of Jan. 1, 2026. Under the initiative, roughly 90% of the revenue would be directed toward health care programs, with the remaining 10% earmarked for education and food assistance. 

Supporters of the measure, which they have branded the “Billionaire Tax,” celebrated this week after qualifying for the November ballot, arguing the proposal would help keep hospitals and emergency rooms open as California grapples with reductions in federal health care funding.

COCA-COLA TAKES ITS FIGHT WITH THE IRS TO FEDERAL APPEALS COURT WITH $20B ON THE LINE

Newsom, however, has argued the proposal is a short-term solution to a long-term budget challenge that could drive wealthy taxpayers out of the state and further destabilize California’s tax base. Democratic gubernatorial candidate Xavier Becerra and Republican candidate Steve Hilton have also voiced opposition.

A coalition of health care, education and housing organizations likewise warned the proposal could make California’s finances more volatile by encouraging high-income residents to leave.

The nonpartisan Legislative Analyst’s Office estimates the measure would generate tens of billions of dollars during its first few years, though it projects California’s personal income tax collections would later decline by hundreds of millions of dollars annually as taxpayers adjust their behavior.

California already relies heavily on its highest earners, with the state’s top 1% of taxpayers accounting for nearly half of all personal income tax revenue.

COCA-COLA TAKES ITS FIGHT WITH THE IRS TO FEDERAL APPEALS COURT WITH $20B ON THE LINE

The initiative includes several provisions designed to address concerns over how billionaires would pay the tax. Eligible taxpayers could elect to pay the liability over five annual installments, while certain individuals with largely illiquid assets could qualify for a deferral mechanism established under the proposal. The measure also contains anti-avoidance provisions intended to prevent taxpayers from shifting assets or restructuring ownership to reduce their tax liability.

Opponents argue many Silicon Valley billionaires have already relocated assets or threatened to leave California to avoid future tax increases.

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The labor union backing the proposal, Service Employees International Union-United Healthcare Workers West, previously offered to reduce the tax rate to 2% in an effort to win Newsom’s support. According to CBS News, the governor’s office said the lower rate did not change his opposition.