Discount Rates in India
The chart below shows the discount rates in India based on the Zero Coupon Yield Curve (ZCYC) derived by Clearing Corporation of India Ltd (CCIL).
Methodology
The methodology used in construction of these curves has been documented by CCIL and is mentioned here. Numerica has not been involved in the construction of these curves, but considers the methodology used as sound and robust.
Appropriate Use
Follow judgement:
- IAS 19, Ind AS 19, AS 15 discount rate determination for employee benefit obligations
- IFRS/Ind AS compliance and financial reporting
- Benchmarking and economic analysis
Not Appropriate For
Any other purpose not listed above, including:
- Trading, investment decisions, or portfolio management
- Pricing derivatives or structured products
- High-frequency or intraday applications
- Regulatory capital calculations requiring approved vendor data
Disclaimers
Intended users: This data is provided exclusively for Numerica clients and their professional advisors working on Ind AS 19, IAS 19, AS 15 and other IFRS and Indian GAAP compliance matters.
No warranty: No representations or warranties regarding accuracy, completeness, or timeliness. Yield curves are fitted models; thin trading may affect reliability.
Professional judgment required: Users must exercise independent professional judgment and verify data before use in financial reporting. Ultimate responsibility for discount rate selection rests with the reporting entity and their auditors.
No liability: Numerica shall not be liable for losses, damages, or adverse consequences arising from use of this data.