Indian Debt Market Summary

  • The interbank call money rate ended at 6.25% on 15th October as against 6.35% on 12th October.
  • Gilt prices rose on 15th October as benign retail inflation figures for September eased concerns of further interest rate hikes by the central bank.
  • Narrowing of India’s trade deficit for September also aided sentiment.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.92% on 15th October as against 7.98% on 12th October.

Debt Market Watch Updates

Debt Watch15 OctWeek AgoMonth AgoYear Ago
Call Rate6.25%6.30%6.30%5.85%
10 Yr Gilt7.92%7.97%8.13%6.73%
1-mth CP rate7.75%7.75%7.55%6.50%
3-mth CP rate8.40%8.30%8.00%6.75%
6-mth CP rate9.05%8.75%8.50%7.00%
1 yr CP rate9.20%8.85%8.95%7.15%
1-mth CD rate6.75%6.75%7.10%6.05%
3-mth CD rate7.40%7.30%7.41%6.19%
6-mth CD rate8.30%7.65%7.85%6.50%
1 yr CD rate8.50%8.30%8.33%6.58%
Key announcements in the monthRelease Date
China GDP, Q3 2018October 19
ECB Refinancing RateOctober 25
US GDP Advance, Q3 2018October 26

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
October 19G-sec auction11,000 (Notified)
October 12Total repo1,19,600 (outstanding)
October 12Total reverse repo99,314 (outstanding)
October 12Marginal Standing Facility1,215
October 12GOI Surplus Cash Balance with RBI0
Yield (%)G-SecAAAAA+AAAA-A+
6 Month7.228.508.679.929.069.32
1 Year7.578.658.889.179.329.56
3 Year7.728.749.979.339.619.90
5 Year7.898.809.039.399.6810.07
10 Year7.928.819.179.5610.0210.36

G-sec and corporate bonds data as of Oct 15

6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.35% CGL 2020; 3 year G-Sec: 7.80% CGL 2021; 5 year G-Sec: 7.37% CGL 2023; 10 year G-Sec: 7.17% GS 2028

Last Updated: 15th October 2018

Next Update: 31th October 2018

Update Frequency: Once Every Fortnight