Period covered: 30 March 2026 vs 30 June 2026 (Q1 FY2026-27)
The INR zero-coupon yield curve shifted down across all tenors over the quarter, with the decline widening from around 25 bps at the short end to roughly 40 bps at the 15–20 year segment — a modest bull-flattening.
Zero Coupon Yield Rates (%) – Maturities up to 20 Years
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Source: CCIL zero-coupon yield curve, rates as at 30 March 2026 and 30 June 2026. Δ (bps) = change in yield from March to June (negative = decline).