India 10Y G-Sec

Current Assessment

Every 25bps move in the India 10Y flows through to NBFC funding costs, corporate bond pricing, and equity valuations within one to two quarters. Rising yields squeeze net interest margins for borrowers and compress equity multiples; falling yields ease both.

Watch level: Above 7.2% is restrictive; below 6.5% is accommodative.

About This Indicator

The yield on India's benchmark 10-year government security. It is India's own risk-free rate and anchors the cost of capital for every rupee-denominated borrower, from the sovereign to NBFCs to corporates.

Sector Impact