India’s 10-year government bond yield in Mumbai jumped past 7% to close at 7.01% as crude oil prices rose and hawkish comments from the US Federal Reserve pushed global yields higher. Money market rates climbed too, reflecting shrinking banking liquidity and tighter financial conditions, increasing pressure on borrowing costs.
The Reserve Bank of India will auction ₹14,500 crore in State Government Securities on April 28, 2026. States including Uttar Pradesh and Madhya Pradesh are expected to sell bonds across tenors of 3 to 23 years through the E-Kuber platform. The securities qualify for SLR and are open to retail investors, widening participation beyond institutions.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
