The Reserve Bank of India (RBI) on October 03, 2023, issued a notification regarding the rate of interest on the Government of India Floating Rate Bond 2028
The following has been stated namely: -
• It states that the rate of interest on the Government of India Floating Rate Bond applicable for the half year October 04, 2023, to April 03, 2024, shall be 7.69 percent per annum.
• It further states that the FRB 2028 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of the last three auctions (from the rate fixing day i.e., October 04, 2023) of 182 Day T-Bills, plus a fixed spread (0.64 percent).
[Notification No. 2023-2024/1036]
