India’s 10-Year Benchmark Government Bond Yield Inches Higher to 6.51% Amid Market Watchfulness

India’s 10-Year G-Sec Yield Shows Slight Uptick, Market Awaits Further Clarity

On November 12, 2025, the yield on India’s 10-year benchmark government security (G-Sec) modestly increased to 6.5128% compared to 6.4955% at the previous close. This movement signals the market's cautious stance amid expectations around Reserve Bank of India’s (RBI) open market operations and the government’s upcoming bond auctions.

The RBI’s ongoing interventions to manage liquidity and support the bond market came into focus as participants weighed key factors such as inflation trends, currency fluctuations, and fiscal deficit management. The central bank’s balancing act between repo rate policies and bond purchases is closely monitored by fixed-income investors.

Market experts highlight that despite this slight rise, yields remain near historic lows from recent weeks, given steady foreign inflows into government securities and calibrated debt issuance by the Indian government.

The new 10-year bond issuance and evolving macroeconomic indicators in the coming weeks are likely to provide clearer direction for bond yields and investor sentiment.

Key Highlights:

10-year benchmark government bond yield at 6.5128% on Nov 12, up from 6.4955%.

Market awaits RBI’s liquidity management decisions via open market operations.

Government’s bond auction schedule and fiscal stance are key focus areas.

Yields remain near seven-week lows amid steady foreign investor inflows.

Inflation outlook and currency stability remain critical to yield movement.

Source: Trading Economics, Reuters, Economic Times, FBIL (2025)