{"id":6812,"date":"2023-11-10T16:42:50","date_gmt":"2023-11-10T16:42:50","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=6812"},"modified":"2026-05-15T12:48:18","modified_gmt":"2026-05-15T12:48:18","slug":"government-securities","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/","title":{"rendered":"Government Securities (G-Secs) in India: Types, Yields, How to Invest &amp; Taxation (2026)"},"content":{"rendered":"\n\n\n<p><strong>Current 10-Year G-Sec Yield: ~7.05% (as of May 14, 2026)<\/strong> <em>Yields have moved higher in recent months, driven by elevated global crude oil prices, geopolitical tensions, and FPI outflows from domestic debt markets. The benchmark 6.48% 2035 bond has seen its yield hold near the 7.05% level.<\/em> <em>(Source: Trading Economics \/ CCIL \u2014 updated May 2026)<\/em><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#What_are_Government_Securities\" >What are Government Securities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#G-SEC_HOLDINGS_IN_INDIA\" >G-SEC HOLDINGS IN INDIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#Advantages_of_Holding_G-sec\" >Advantages of Holding G-sec<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#What_are_the_limits_for_investors_bidding_amount\" >What are the limits for investors&#8217; bidding amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#How_much_will_you_earn_if_you_invest_in_G-sec\" >How much will you earn if you invest in G-sec?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#Taxation_Process_for_G-sec\" >Taxation Process for G-sec<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#Capital_Gains_Tax_on_G-Secs\" >Capital Gains Tax on G-Secs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#KYC_Process\" >KYC Process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#Bidding_Period_of_NSE\" >Bidding Period of NSE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#Difference_Between_G-Sec_Strips_and_Treasury_Bills\" >Difference Between G-Sec, Strips and Treasury Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#Some_Important_facts_before_you_invest_into_Government_Securities\" >Some Important facts before you invest into Government Securities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/government-securities\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_Government_Securities\"><\/span><span style=\"font-family: Inter;\"><strong>What are Government Securities?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">A &#8216;<a href=\"https:\/\/goldenpi.com\/government-securities\" target=\"_blank\" rel=\"noopener noreferrer\">Government Security<\/a>&#8216; (G-Sec) is a tradable financial instrument issued by either the central or state governments, representing an acknowledgment of their debt obligation. These securities come in two main categories:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400; font-family: Inter;\"><strong>Short-Term:<\/strong> Often known as &#8220;Treasury Bills,&#8221; these have initial maturities of less than a year.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400; font-family: Inter;\"><strong>Long-Term:<\/strong> Typically referred to as Government Bonds or Dated Securities, these have an original maturity of one year or more. <a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/5-tax-filing-requirements-for-bond-investors\/\">Investors<\/a> can conveniently access and purchase these <a href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/how-to-invest-in-government-bonds-online\/\" target=\"_blank\" rel=\"noopener noreferrer\">government bonds online<\/a>, streamlining the investment process and making it more accessible.<\/span><\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" width=\"907\" height=\"427\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10113857\/4-2.png\" alt=\"\" class=\"wp-image-6818\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10113857\/4-2.png 907w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10113857\/4-2-300x141.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10113857\/4-2-768x362.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10113857\/4-2-585x275.png 585w\" sizes=\"(max-width: 907px) 100vw, 907px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">A typical dated G-Sec is identified by three components: the <strong>coupon rate<\/strong>, the <strong>issuer name<\/strong>, and the <strong>maturity year<\/strong>. Here is how to read a G-Sec name:<\/span><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Component<\/strong><\/td><td><strong>Example Value<\/strong><\/td><td><strong>What It Means<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Coupon Rate<\/strong><\/td><td>7.17%<\/td><td>The annual interest rate paid on the face value of the bond.<\/td><\/tr><tr><td><strong>Issuer<\/strong><\/td><td>GS (Government Security)<\/td><td>Indicates it is issued by the Government of India.<\/td><\/tr><tr><td><strong>Maturity Year<\/strong><\/td><td>2028<\/td><td>The year in which the principal will be repaid.<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"G-SEC_HOLDINGS_IN_INDIA\"><\/span><strong><span style=\"font-family: Inter;\">G-SEC HOLDINGS IN INDIA<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">India&#8217;s government securities market has grown significantly in size and depth over the past several years. As per the Union Budget for FY 2025\u201326, the government&#8217;s borrowing program reflects both fiscal ambition and a measured consolidation strategy.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Borrowing Metric<\/strong><\/td><td><strong>FY 2024\u201325 (Actuals)<\/strong><\/td><td><strong>FY 2025\u201326 (Budget Estimate)<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Gross Market Borrowings<\/strong> (Dated Securities)<\/td><td>\u20b914.01 lakh crore<\/td><td>\u20b914.82 lakh crore<\/td><\/tr><tr><td><strong>Net Market Borrowings<\/strong> (Dated Securities)<\/td><td>~\u20b910.82 lakh crore<\/td><td>\u20b911.54 lakh crore<\/td><\/tr><tr><td><strong>Sovereign Green Bonds<\/strong> (Included in gross)<\/td><td>\u20b920,000 crore<\/td><td>\u20b910,000 crore<\/td><\/tr><tr><td><strong>Maturity Buckets<\/strong> (H1 FY26)<\/td><td>\u2014<\/td><td>3Y to 50Y securities across 26 weekly auctions<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p>Source: RBI \/ PIB \/ Union Budget 2025\u201326<\/p>\n\n\n\n<p>The FY 2025\u201326 borrowing program spans maturities from 3 years to 50 years, with the 10-year bucket accounting for the largest share at 26.2% of total H1 issuance. The government has also continued its buyback and switching program to smooth out the redemption profile in the near-term years.<\/p>\n\n\n\n<p><strong>Current Market Yield Context:<\/strong> The 10-year benchmark G-Sec yield is hovering near 7.05% (May 2026), up from lows of around 6.22% seen in May 2025, reflecting the impact of rising global crude oil prices, FPI outflows, and geopolitical uncertainty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_of_Holding_G-sec\"><\/span><strong><span style=\"font-family: Inter;\">Advantages of Holding G-sec<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>1. Security and Assurance:<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Government securities are backed by the full faith and credit of the government, offering one of the safest investment options. Issued by the Reserve Bank of India, they provide a secure haven for investors.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>2. Competitive Yields in a Dynamic Rate Environment<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">In the current interest rate environment, government securities offer competitive yields that are risk-free by nature. As of May 2026, the 10-year G-Sec benchmark yield stands near 7.05%, making it an attractive baseline for conservative fixed-income investors. With rising global uncertainty, investors increasingly value the security and predictability that G-Secs offer &#8211; particularly when corporate bonds carry additional credit risk. For investors seeking stable, sovereign-backed returns without credit exposure, G-Secs present a compelling case<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>3. Convenient Entry and Exit:<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Facilitated by the National Stock Exchange&#8217;s auction platform, purchasing and selling these bonds in the secondary market is seamless. The active secondary market ensures investors can easily liquidate their holdings.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>4. Steady Fixed-Income Returns:<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">With a predetermined interest rate, investors enjoy a reliable income stream until maturity. This fixed-income nature makes them particularly appealing for businesses seeking stability over an extended period.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>5. Tax Advantage &#8211; No TDS:<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Interest earned on government securities is not subject to Tax Deducted at Source (TDS), enhancing returns for <a href=\"https:\/\/goldenpi.com\/blog\/bond-market-2\/global-bond-market-trends-affecting-indian-investors\/\">investors.<\/a><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>6. Versatile Collateral Option:<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Government securities can serve as collateral for loans, providing an additional layer of financial flexibility for investors.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-family: Inter;\"><b>7. Dematerialized Convenience:<\/b><\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Eliminating the need for physical documentation, these securities can be held in dematerialized form, streamlining online transactions and enhancing overall accessibility.&#8221;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Must Read<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/government-securities\/international-securities-identification-number\/\" aria-label=\"What is the International Securities Identification Number?\"><img decoding=\"async\" width=\"731\" height=\"347\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26130904\/What-Is-the-ISIN-International-Securities-Identification-Number.png\" class=\"attachment-large size-large wp-post-image\" alt=\"International Securities Identification Number\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26130904\/What-Is-the-ISIN-International-Securities-Identification-Number.png 731w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26130904\/What-Is-the-ISIN-International-Securities-Identification-Number-300x142.png 300w\" sizes=\"(max-width: 731px) 100vw, 731px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/government-securities\/international-securities-identification-number\/\">What is the International Securities Identification Number?<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/government-securities\/what-is-coupon-payment\/\" aria-label=\"What is Coupon Payment?\"><img decoding=\"async\" width=\"731\" height=\"347\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26121200\/What-Is-a-Coupon-Payment.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Coupon Payment\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26121200\/What-Is-a-Coupon-Payment.png 731w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26121200\/What-Is-a-Coupon-Payment-300x142.png 300w\" sizes=\"(max-width: 731px) 100vw, 731px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/government-securities\/what-is-coupon-payment\/\">What is Coupon Payment?<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/government-securities\/what-is-call-option-put-option\/\" aria-label=\"What is Call Option &#038; Put Option?\"><img decoding=\"async\" width=\"731\" height=\"347\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26122701\/What-Is-a-Call-Option-Put-Option.png\" class=\"attachment-large size-large wp-post-image\" alt=\"What Is a Call Option &amp; Put Option\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26122701\/What-Is-a-Call-Option-Put-Option.png 731w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/26122701\/What-Is-a-Call-Option-Put-Option-300x142.png 300w\" sizes=\"(max-width: 731px) 100vw, 731px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/government-securities\/what-is-call-option-put-option\/\">What is Call Option &#038; Put Option?<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_limits_for_investors_bidding_amount\"><\/span><strong><span style=\"font-family: Inter;\">What are the limits for investors&#8217; bidding amount?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The following limits apply to retail investors participating through the Non-Competitive Bidding (NCB) route via NSE goBID or registered trading members:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Parameter<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Minimum Bidding Amount<\/strong><\/td><td>\u20b910,000 (face value)<\/td><\/tr><tr><td><strong>Bidding Increments<\/strong><\/td><td>Multiples of \u20b910,000<\/td><\/tr><tr><td><strong>Maximum Bid \u2014 GOI Dated Securities<\/strong><\/td><td>\u20b92,00,00,000 (\u20b92 crore) per security per auction<\/td><\/tr><tr><td><strong>Maximum Bid \u2014 Treasury Bills (T-Bills)<\/strong><\/td><td>\u20b92,00,00,000 (\u20b92 crore) per security per auction<\/td><\/tr><tr><td><strong>Maximum Bid \u2014 State Development Loans (SDLs)<\/strong><\/td><td>\u20b92,00,00,000 (\u20b92 crore) per security per auction<\/td><\/tr><tr><td><strong>Bidding Route<\/strong><\/td><td>NSE goBID web platform or via NSE-registered trading members<\/td><\/tr><tr><td><strong>Bid Type<\/strong><\/td><td><strong>Non-Competitive Bidding (NCB)<\/strong> \u2014 no need to quote yield\/price<\/td><\/tr><tr><td><strong>Allotment Price<\/strong><\/td><td>Weighted average price\/yield of that auction<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><strong>Important Update:<\/strong> The NSE goBID mobile app (Android &amp; iOS) was temporarily discontinued from July 30, 2025. Retail investors can continue to access the platform via the NSE goBID web portal at <a href=\"https:\/\/eipo.nseindia.com\/eipodc\/rest\/login\">eipo.nseindia.com<\/a>. Check NSE&#8217;s website for the latest status on the mobile app reinstatement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_much_will_you_earn_if_you_invest_in_G-sec\"><\/span><strong><span style=\"font-family: Inter;\">How much will you earn if you invest in G-sec?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Let us understand G-Sec returns with a simple example. Every bond has a face (par) value of \u20b9100, but may be issued at par, at a premium (above \u20b9100), or at a discount (below \u20b9100), depending on the auction outcome.<\/span><\/p>\n\n\n\n<p>Investor buys 7.00% GS 2026 at a discount price of \u20b998 for 120 units<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Parameter<\/strong><\/td><td><strong>Calculation<\/strong><\/td><td><strong>Value<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Bond Name<\/strong><\/td><td>\u2014<\/td><td>7.00% GS 2026<\/td><\/tr><tr><td><strong>Face Value per Unit<\/strong><\/td><td>\u2014<\/td><td>\u20b9100<\/td><\/tr><tr><td><strong>Purchase Price per Unit<\/strong><\/td><td>\u2014<\/td><td>\u20b998 (at discount)<\/td><\/tr><tr><td><strong>Units Purchased<\/strong><\/td><td>\u2014<\/td><td>120<\/td><\/tr><tr><td><strong>Total Amount Invested<\/strong><\/td><td>$\u20b998 \\times 120$<\/td><td><strong>\u20b911,760<\/strong><\/td><\/tr><tr><td><strong>Annual Coupon Rate<\/strong><\/td><td>\u2014<\/td><td>7.00% on face value<\/td><\/tr><tr><td><strong>Interest Per Unit (Half Year)<\/strong><\/td><td>$\u20b9100 \\times 7\\% \\div 2$<\/td><td><strong>\u20b93.50<\/strong><\/td><\/tr><tr><td><strong>Total Interest Per Half Year<\/strong><\/td><td>$\u20b93.50 \\times 120$<\/td><td><strong>\u20b9420<\/strong><\/td><\/tr><tr><td><strong>Total Interest Per Year<\/strong><\/td><td>$\u20b9420 \\times 2$<\/td><td><strong>\u20b9840<\/strong><\/td><\/tr><tr><td><strong>Principal Repaid at Maturity<\/strong><\/td><td>$\u20b9100 \\times 120$<\/td><td><strong>\u20b912,000<\/strong><\/td><\/tr><tr><td><strong>Profit at Maturity (Capital Gain)<\/strong><\/td><td>$\u20b912,000 &#8211; \u20b911,760$<\/td><td><strong>\u20b9240<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">So the total amount paid by the investor would be 98*120= Rs 11760<\/span><\/p>\n\n\n\n<p><strong>Summary of Cash Inflows for the Investor:<\/strong><\/p>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">As the interest is paid on half yearly basis, the total amount earned is as follow-<\/span><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Cash Flow Component<\/strong><\/td><td><strong>Amount<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Biannual Interest<\/strong> (per period)<\/td><td>\u20b9420<\/td><\/tr><tr><td><strong>Total Interest Over Holding Period<\/strong><\/td><td>Depends on tenure remaining<\/td><\/tr><tr><td><strong>Principal at Maturity<\/strong><\/td><td>\u20b912,000<\/td><\/tr><tr><td><strong>Capital Gain<\/strong> (Discount to Par)<\/td><td>\u20b9240<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Taxation_Process_for_G-sec\"><\/span><strong><span style=\"font-family: Inter;\">Taxation Process for G-sec<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">Most Government Securities are not tax-exempt. Interest income from G-Secs is classified as &#8220;Income from Other Sources&#8221; and taxed at your applicable income tax slab rate. <strong>There is no TDS deducted on G-Sec interest income.<\/strong> However, taxes must be self-declared and paid accordingly.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Capital_Gains_Tax_on_G-Secs\"><\/span>Capital Gains Tax on G-Secs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Type of Gain<\/strong><\/td><td><strong>Holding Period<\/strong><\/td><td><strong>Tax Rate<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>STCG \u2014 Listed G-Secs<\/strong><\/td><td>Held for 12 months or less<\/td><td>Taxed at applicable income tax slab rate<\/td><\/tr><tr><td><strong>LTCG \u2014 Listed G-Secs<\/strong><\/td><td>Held for more than 12 months<\/td><td>12.5% without indexation (Section 112)<\/td><\/tr><tr><td><strong>STCG \u2014 Unlisted Bonds \/ G-Secs<\/strong><\/td><td>Held for 24 months or less<\/td><td>Taxed at applicable income tax slab rate<\/td><\/tr><tr><td><strong>LTCG \u2014 Unlisted Bonds \/ G-Secs<\/strong><\/td><td>Held for more than 24 months<\/td><td>12.5% without indexation<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><strong>Key Changes Post\u2013Finance Act 2024 (effective July 23, 2024):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>LTCG rate has been rationalised to a flat <strong>12.5% without indexation<\/strong> for bonds and G-Secs (previously 20% with indexation under Section 112).<\/li>\n\n\n\n<li>Indexation benefit has been removed for most non-equity assets transferred on or after July 23, 2024.<\/li>\n\n\n\n<li><strong>No TDS<\/strong> is applicable on G-Sec interest income \u2014 but the investor must declare and pay tax as per applicable slab.<\/li>\n\n\n\n<li>Tax-free bonds (e.g., certain infrastructure bonds like NHAI, REC) remain exempt from income tax on interest, but are a separate category from standard G-Secs.<\/li>\n<\/ul>\n<\/blockquote>\n\n\n\n<p><em>Source: Income Tax Department \/ Finance (No. 2) Act, 2024 \/ CBDT FAQs<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"KYC_Process\"><\/span><strong><span style=\"font-family: Inter;\">KYC Process<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><span style=\"font-weight: 400; font-family: Inter;\">Photo<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400; font-family: Inter;\">Scanned copy of PAN Card<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400; font-family: Inter;\">Scanned copy of Voter ID\/ Adhaar Card\/ Driving License<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400; font-family: Inter;\">Canceled cheque\/ Bank Statement\/ Passbook Copy<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400; font-family: Inter;\">Demat Copy- CMR or CML or eCAS Statement of CDSL or NSDL<\/span><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bidding_Period_of_NSE\"><\/span><strong><span style=\"font-family: Inter;\">Bidding Period of NSE<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400; font-family: Inter;\">The RBI conducts government securities auctions on a weekly basis. NSE acts as a facilitator for retail investors through the Non-Competitive Bidding (NCB) route. The typical auction and bidding schedule is as follows:<\/span><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Security Type<\/strong><\/td><td><strong>Auction Day (RBI)<\/strong><\/td><td><strong>NCB Bidding Window (NSE goBID)<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>GOI Dated Securities (G-Secs)<\/strong><\/td><td>Every Friday<\/td><td>Opens after RBI notification; closes before auction cut-off<\/td><\/tr><tr><td><strong>Treasury Bills (T-Bills)<\/strong><\/td><td>Every Wednesday<\/td><td>Opens after RBI notification; closes before auction cut-off<\/td><\/tr><tr><td><strong>State Development Loans (SDLs)<\/strong><\/td><td>Every Tuesday<\/td><td>Opens after RBI notification; closes before auction cut-off<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><strong>Note:<\/strong> The specific dates and bidding windows are confirmed each week by the RBI through auction notifications and are made available on the NSE goBID web platform. Investors should check the live schedule at <a href=\"https:\/\/www.nseindia.com\/static\/products-services\/about-non-competitive-bidding\" rel=\"nofollow\">NSE NCB Portal<\/a> before placing bids. Auction schedules may vary during public holidays or special market events.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Difference_Between_G-Sec_Strips_and_Treasury_Bills\"><\/span><strong><span style=\"font-family: Inter;\">Difference Between G-Sec, Strips and Treasury Bills<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong><span style=\"font-family: Inter;\">Features<\/span><\/strong><\/td><td><strong><span style=\"font-family: Inter;\">Government Securities<\/span><\/strong><\/td><td><strong><span style=\"font-family: Inter;\">Strips<\/span><\/strong><\/td><td><strong><span style=\"font-family: Inter;\">Treasury Bills<\/span><\/strong><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Nature of Instrument<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Long-term debt instruments issued by the government with fixed or floating interest rates.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Zero-coupon securities created by separating the interest and principal components of a government security.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Short-term money market instruments issued by the government.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Maturity Period<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Generally, medium to long-term maturity, ranging from 5 to 50 years.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Maturity period depends on the residual maturity of the underlying security from which Strips are created.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Short-term, with maturities ranging from 91 days to 364 days.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Interest Payments<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Pay regular interest payments (semi-annually)<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\"><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/what-are-zero-coupon-bonds\/\">Zero-coupon bonds<\/a> do not pay periodic interest; instead, they are issued at a discount and redeemed at face value.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Treasury Bills do not pay periodic interest; they are issued at a discount and redeemed at face value.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Yield<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Yield is calculated based on the market price of the security and the remaining interest payments<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Yield is calculated based on the difference between the purchase price and the redemption value<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Yield is calculated based on the discount rate at which the treasury bill is sold<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Liquidity<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Relatively high liquidity<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Lower liquidity than government securities<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">High liquidity<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Trading in the Secondary Market<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Traded in the secondary market, providing liquidity to investors.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Strips can be traded individually in the secondary market.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Treasury Bills can be traded in the secondary market.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Face Value Redemption<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Redeemed at face value upon maturity.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Redeemed at face value upon maturity.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Redeemed at face value upon maturity.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Risk and Returns<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Generally considered low-risk investments with stable returns.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Lower risk due to the guaranteed redemption value; returns depend on the purchase price.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Considered low-risk due to government backing; returns are typically lower compared to longer-term securities.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Issuing Authority<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Issued by the Reserve Bank of India (RBI) on behalf of the Government of India.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Created by primary dealers in consultation with the RBI.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Issued by the RBI on behalf of the Government of India.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Primary Market Auctions<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Initially issued through auctions in the primary market.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Not issued through auctions; created by primary dealers.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Initially issued through auctions in the primary market.<\/span><\/td><\/tr><tr><td><span style=\"font-weight: 400; font-family: Inter;\">Denomination<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Generally available in multiples of INR 10,000 or INR 100,000.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Denominated in smaller units, facilitating retail participation.<\/span><\/td><td><span style=\"font-weight: 400; font-family: Inter;\">Usually issued in multiples of INR 25,000.<\/span><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_facts_before_you_invest_into_Government_Securities\"><\/span><strong><span style=\"font-family: Inter;\">Some Important facts before you invest into Government Securities<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><figure><img decoding=\"async\" class=\"size-large wp-image-6825 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-1024x376.png\" alt=\"\" width=\"1024\" height=\"376\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-1024x376.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-300x110.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-768x282.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-1536x564.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-2048x753.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-1170x430.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-1920x706.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/11\/10114233\/Picture8-585x215.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><br>\n<span style=\"font-weight: 400;\">FAQs<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>1. What are Government Securities?<\/strong><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Government Securities (also known as G-Secs) are debt instruments or bonds issued by central or state governments. They represent the government&#8217;s debt obligation, and may carry a full or quasi-sovereign guarantee. Usually, such bonds come with a pre-determined interest rate paid half-yearly.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2. Are Government Securities the same as G-Secs?<\/strong><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Yes, Government Securities are commonly called \u201cG-Secs\u201d in India. It includes both short-term 91-Day Treasury Bills (T-bills) and long-term government bonds.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>3. How do G-Sec yields look in 2026?<\/strong><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">India&#8217;s 10-year G-Sec yield is currently hovering near 7.05% as of May 14, 2026. Yields have risen sharply compared to the lows of approximately 6.22% seen in May 2025, driven by a combination of rising crude oil prices, foreign portfolio investor outflows, and geopolitical tensions in West Asia, which have stoked inflation concerns for India&#8217;s import-dependent economy<\/span><\/p>\n\n\n\n<p>India&#8217;s 10-year G-Sec yield moved from 7.17% in April 2024 to a low of 6.22% in May 2025, before rising again to 6.77% by January 2026, and has continued to climb since then. For investors, this current yield environment presents an attractive entry point into G-Secs \u2014 locking in sovereign-backed returns at multi-month highs<\/p>\n\n\n\n<p><script type=\"application\/ld+json\"><br \/>\n{<br \/>\n  \"@context\": \"https:\/\/schema.org\",<br \/>\n  \"@type\": \"FAQPage\",<br \/>\n  \"mainEntity\": [<br \/>\n    {<br \/>\n      \"@type\": \"Question\",<br \/>\n      \"name\": \"What are Government Securities?\",<br \/>\n      \"acceptedAnswer\": {<br \/>\n        \"@type\": \"Answer\",<br \/>\n        \"text\": \"Government Securities (also known as G-Secs) are debt instruments or bonds issued by central or state governments. They represent the government's debt obligation and may carry a full or quasi-sovereign guarantee. 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The increase is largely attributed to higher issuance of state government bonds and relatively lower participation from pension and insurance funds.\"<br \/>\n      }<br \/>\n    }<br \/>\n  ]<br \/>\n}<br \/>\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Current 10-Year G-Sec Yield: ~7.05% (as of May 14, 2026) Yields have moved higher in recent months, driven by elevated global crude&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-6812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-guide"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government Securities (G-Secs): Types, Yields, Invest &amp; 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