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Govt securities mkt expands over 2-fold between 2019 and 2024: RBI report
Forex clearing transactions rose from 16.6 lakh transactions worth Rs 466 trillion in 2020 to 26.3 lakh transactions amounting to Rs 885 trillion in 2024
India’s G-Sec, forex, and rupee derivatives markets see robust growth; RBI reports record transaction volumes and values through H1 2025 across key financial segments.
2 min read Last Updated : Oct 23 2025 | 8:37 PM IST
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The Government Securities (G-Sec) market expanded from ₹769 trillion in 2019 to ₹1,812 trillion in 2024 while volume increased from 1.37 million in 2019 to 1.76 million in 2024, according to the Payment Systems Report by the Reserve Bank of India. The report added that during H12025, 985,000 transactions with a total value of ₹994 crore were processed,
Forex Clearing transactions rose from 1.66 million transactions worth '466 trillion in 2020 to 2.63 million amounting to ₹885 trillion in 2024. In H12025, 1.82 million transactions totalling ₹682 trillion were recorded.
The Rupee Derivatives market grew from 7,213 transactions worth Rs. 5.4 trillion in 2019 to 1.35 lakh transactions valued at Rs. 83 trillion in 2024. In H1 2025, transaction volume was 73,225 with a value of Rs. 58 trillion.
The rupee derivatives market has displayed a steady upward trend since 2019. With just 7,213 transactions worth ₹5.4 trillion in 2019, the segment grew to a record 135,000 transactions worth ₹83 trillion in 2024. The momentum persisted in H12025, with transactions volume of 73,225 and a value of ₹58 trillion,” the report said.
In recent years, CCIL transactions have shown a rising trend. Transaction volume increased from 3.5 million in 2019 to 4.5 million in 2024, while transaction value rose from ₹1.27 trillion to '2.78 trillion during the same period. In the first half of 2025, 2.88 million transactions amounting to ₹1.73 trillion were recorded.
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