The Reserve Bank of India (RBI) on May 06, 2024, issued the Rate of Interest on the Government of India Floating Rate Bond 2024.
The rate of interest on the Government of India Floating Rate Bond 2024 (FRB 2024) applicable for the half year May 07, 2024, to November 06, 2024, shall be 7.03 per cent per annum.
It may be recalled 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 May 07, 2024.
[Press Release: 2024-2025/255]
