G-Sec yields declined across most maturities, reflecting a softer interest rate environment.

Compared to 31 December 2023, the yield curve shifted downward, with lower yields across the maturity spectrum.

The decline in discount rates may increase employee benefit obligations, assuming other actuarial assumptions remain unchanged.

Lower yields may improve the fair value of fixed-income plan assets under mark-to-market (MTM) valuation.

This matches the tone and length typically used in KA Pandit's quarterly interest rate updates.

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Insights

Actuarial Thinking for Business Brilliance

Employee Benefit Obligations are to be valued based on G-Sec rate of estimated term as prevalent at the end of the reporting period.

Employee Benefit Obligations are to be valued based on G-Sec rate of estimated term asprevalent at the end of the reporting period.

Summary of G-sec rates and par yields for employee benefits as of 30th June 2025.

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