India yields dashboard
The rates that anchor Indian fixed-income decisions, each with the date it was last checked. A yield without a date isn't worth much.
Last reviewed: 20 August 2026. Values are compiled from RBI policy
statements, auction results and government small-savings notifications. Always
confirm live numbers at the source before transacting.
Policy & benchmarks
| Rate | Value | As of |
|---|---|---|
| RBI repo rate | 5.25% | held unanimously at the 3–5 Aug 2026 MPC, neutral stance; next meeting 5–7 Oct 2026 |
| 10-year G-sec yield | ~6.84% | 20 Aug 2026 |
T-bill auction cut-offs
| Rate | Value | As of |
|---|---|---|
| 91-day T-bill cut-off | 5.26% | auction of 19 Aug 2026 |
| 182-day T-bill cut-off | 5.57% | auction of 19 Aug 2026 |
| 364-day T-bill cut-off | 5.74% | auction of 19 Aug 2026 |
Small savings (administered rates)
| Rate | Value | As of |
|---|---|---|
| NSC | 7.70% | Jul–Sep 2026 quarter, notified 30 Jun 2026 |
| RBI Floating Rate Savings Bond | 8.05% | Jul–Dec 2026 reset |
Market context
- SDLs (state loans) priced roughly 65–80 bps over comparable G-secs at the auction of 21 Jul 2026, well above the 25–40 bps of recent years. Heavy state supply is the driver.
- Public NCD issues in mid-2026: AA-zone paper around 8.5–9.3% (Muthoot Fincorp AA, Adani Enterprises AA-, Paisalo Digital AA), while A and A- paper reached 10.4–12.25% (Kosamattam A, Indel Money A-). The BBB tier now touches 12.25% too (ICL Fincorp BBB-, Chemmanur Credits BBB, KLM Axiva BBB-). PSU AAA trades broadly in the 7.0–7.5% zone. The rating explains the gap.
- Liquid fund forward yields track the overnight/repo corridor (~5.0–5.5%); trailing 1-year figures reflect the higher-rate past.
Put these numbers to work
- Convert a T-bill cut-off into your post-tax return: T-bill calculator
- Check any bond quote against these benchmarks: YTM calculator
- See whether the FRSB's 8.05% beats an FD at your slab: FRSB calculator · FD vs bond
- Understand the spread language: SDL guide · glossary
- Work out when the next cut-offs are set: RBI auction calendar
Educational reference, not live market data or investment advice. Primary sources: rbi.org.in (policy & auctions), Ministry of Finance small-savings notifications. See the disclaimer.