The Reserve Bank of India (RBI) on November 06, 2023, issued the Rate of interest on the Government of India Floating Rate Bond 2024
The following has been stated namely: -
• It states that the rate of interest on the Floating Rate Bond 2024 applicable for the half year November 07, 2023, to May 06, 2024, has been fixed as 7.14 percent per annum.
• It further states that the rate of interest on FRB 2024 is reset at the average rate (rounded off up to two decimal places) of the implicit yields, at the cut-off prices of the last three auctions of Government of India 182-day Treasury Bills, held up to the period preceding the coupon reset date, which is November 07, 2023. The implicit yields are computed by reckoning 365 days in a year.
[Press Release 2023-2024/1250]
