The Annualised Par Yields on Government Securities as of 30 September 2024 show a stable yet slightly downward trend across all maturities, reflecting the broader softening of interest rates in the Indian bond market. For short-term tenures ranging from 1 to 3 years, yields were observed between 6.50% and 6.75%, indicating relatively lower returns driven by short-term liquidity conditions and monetary policy stability. Medium-term securities, covering 4 to 7 years, recorded yields between 6.75% and 7.00%, suggesting a moderate rise due to market expectations of gradual economic recovery. Long-term securities spanning 8 to 15 years yielded between 7.00% and 7.25%, while the very long-term segment, covering 16 to 30 years, offered the highest range of 7.25% to 7.50%, reflecting the premium associated with longer investment horizons and inflation expectations. Graphical comparisons of the yields over time highlight movements between 28 March 2024, 28 June 2024, and 30 September 2024, illustrating a gradual decline in yields throughout the year. Additionally, a separate comparison between 30 September 2023 and 30 September 2024 confirms a consistent softening in interest rates across tenures, aligning with global recessionary trends and domestic efforts to sustain economic growth through accommodative fiscal and monetary policies.
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