Bond price and yield

The price of a bond is the present value of its coupons and principal, discounted at the market yield, so price and yield move in opposite directions.

A ten-year bond paying a 7% coupon once a year, when market yields are 8%, is worth ₹93.29 per ₹100 of face value; with half-yearly coupons, the convention for Indian government securities and US Treasuries, it's worth ₹93.20.

Interest rate risk is that inverse relationship and nothing else. A holder who bought at par and watches yields rise has an unrealised loss. If they hold to maturity they still receive the full face value, so the loss matters for a bank marking to market and not for a saver holding to term.