India's domestic bond and currency markets will be closed on Tuesday and Wednesday for the Diwali public holidays.
Stock markets will hold a special short trading session from 1015 to 1110 GMT on Tuesday but trading will be shut on Wednesday.
The benchmark 10-year bond yield fell 1 basis point to 8.21 percent on Monday. The 1-year overnight index swap (OIS) rate fell 2 bps to 7.75 percent, while the 5-year OIS rate fell 1 bp to 7.14 percent.
The rupee fell for a third session to end at 54.88/89 per dollar on Monday, after hitting a session low at 55.12, a level last seen on September 13. It had closed at 54.75/76 on Friday. (Reporting by Mumbai markets team)