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Indian Bond Yield Reaches Highest Level Since March 2023

lite News Desk 1 min read

India’s benchmark government bond yield touched 7.4397% during trading on Wednesday, October 21, 2026, reaching a level last seen on March 9, 2023, according to Reuters. Indian government bonds declined during the session.

By 10 a.m. IST, the yield on the 6.94% government security due in 2036 stood at 7.4352%. That compared with 7.3920% at the close on Monday. A local holiday had kept debt markets shut on Tuesday.

The trading session came after the Reserve Bank of India’s Monetary Policy Committee increased its repo rate to 5.50% at the October 5–7 meeting. The increase amounted to 25 basis points, and the committee replaced its neutral policy stance with calibrated tightening. Publication of the latest meeting’s minutes was expected after trading ended on October 21, according to Reuters; that timing remained an expectation in its report.

Consumer-price figures from the Ministry of Statistics and Programme Implementation put September’s provisional annual inflation rate for the combined all-India index at 5.54%, up from August’s 4.83%. Those figures use 2024 as the CPI base year.

In the oil market, Brent had traded close to $112 per barrel on Tuesday, October 20, its highest price for five months, according to Reuters. Prices remained elevated in Asian trading on October 21. India relies on imports for nearly 90% of its crude oil, according to the same report.

* This article is based on publicly available information at the time of writing.

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