Indian Debt Market Summary

  • The interbank call money rate ended slightly lower at 6.35% on 29th January as against 6.40% on 28th
  • Gilt prices ended slightly higher on 29th January aided by an overnight fall in crude oil prices, even as concerns about India’s fiscal consolidation persisted ahead of the interim budget announcement.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.53% on 29th January as against 7.54% on 28th
  • The yield of the 10 year 7.26% 2029 paper ended at 7.32% on 29th January as against 7.33% on 28th January.

Debt Market Watch Updates

Debt Watch29 JanWeek AgoMonth AgoYear Ago
Call Rate6.35%6.50%6.50%5.80%
10 Yr Gilt7.53%7.53%7.39%7.44%
1-mth CP rate6.90%6.92%7.16%6.85%
3-mth CP rate7.68%7.65%7.33%8.00%
6-mth CP rate8.30%8.50%8.25%8.10%
1 yr CP rate8.70%8.70%8.90%8.20%
1-mth CD rate6.63%6.75%6.95%6.85%
3-mth CD rate7.20%7.23%7.00%7.26%
6-mth CD rate7.63%7.60%7.65%8.10%
1 yr CD rate7.90%7.75%7.93%7.48%
Key announcements in the monthRelease Date
US GDP, Q4 2018January 30
Eurozone GDP, Q4 2018January 31
US Fed Interest Rate DecisionJanuary 31

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
February 1G-sec auction12,000 (Notified)
January 28Total repo1,07,901 (outstanding)
January 28Total reverse repo51,717 (outstanding)
January 28Marginal Standing Facility101
January 28GOI Surplus Cash Balance with RBI0
Yield (%)G-SecAAAAA+AAAA-A+
6 Month6.687.787.958.208.348.60
1 Year6.838.038.268.558.708.94
3 Year7.
5 Year7.31/td>8.268.538.899.189.57
10 Year7.538.488.849.239.6910.03

G-sec and corporate bonds data as of Jan 29

6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.65% CGL 2020; 3 year G-Sec: 8.79% CGL 2021; 5 year G-Sec: 7.68% CGL 2023; 10 year G-Sec: 7.17% GS 2028

Last Updated: 31st January 2019

Next Update: 15th February 2019

Update Frequency: Once Every Fortnight