The Reserve Bank of India (RBI) on October 27, 2023, issued the rate of interest on the Government of India Floating Rate Bond 2034.
The following has been stated namely: -
• The rate of interest on the Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year October 30, 2023, to April 29, 2024, shall be 8.10 percent per annum.
• It may be recalled that FRB 2034 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 30, 2023) of 182 Day T-Bills, plus a fixed spread (0.98 percent).
[Press-Release: 2023-2024/1193]
