BANGALORE: American government securities worth $70.1 billion in May, increasing its exposure to one of the highest levels so far .         

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This is the second time in more than one year that India's holding has crossed the $70 billion mark after March 2014 when the exposure stood at $70.2 billion. 

All BRICS nations, excluding Russia, increased their holdings of U.S. Treasury securities in May. China remained the biggest holder of these bills with exposure worth $1.271 trillion during that month.         

Latest data from the U.S. Treasury Department show that India's exposure to American government securities stood at $70.1 billion in May, higher than $68.7 billion seen in April.         

The month of May also saw the new Indian government, headed by Prime Minister Narendra Modi, taking charge after a landslide victory in the general elections. 

In March, India held U.S. securities to the tune of $70.2 billion, more than  $67 billion exposure recorded in February while holdings had touched $68.1 billion in January.    

Brazil, Russia, India, China and South Africa make up the five-nation BRICS grouping.      

In May, Brazil held U.S. government securities worth $250.1 billion while that of Russia and South Africa stood at $111.4 billion and $15.4 billion, respectively. 

"Foreign residents increased their holdings of long-term U.S. securities in May; net purchases were $34.6 billion.

Net purchases by private foreign investors were $10.2 billion, while net purchases by foreign official institutions were $24.4 billion," the Treasury Department said in a statement this week.