The Reserve Bank of India (RBI) on April 29, 2024, issued a notification regarding the Rate of interest on the Government of India Floating Rate Bond 2034.
The rate of interest on the Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year April 30, 2024, to October 29, 2024, shall be 8.00 per cent 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., April 30, 2024) of 182 Day T-Bills, plus a fixed spread (0.98 per cent).
[Notification No. 2024-2025/214]
