The Reserve Bank of India (RBI) on July 01, 2024, notified regarding the Rate of Interest on Floating Rate Savings Bond, 2020 (Taxable) – FRSB 2020(T) for the Period July 01, 2024 – December 31, 2024.
The following has been stated namely: -
• It is in reference to Para 13 (ii) Notification F.No.4(10)- B(W&M)/2020 dated June 26, 2020, regarding the Floating Rate Savings Bonds, 2020 (Taxable)- FRSB 2020 (T), the coupon/interest rate of the bond would be reset half yearly, starting with January 01, 2021 and the coupon/interest rate will be set at a spread of (+) 35 bps over the prevailing National Savings Certificate (NSC) rate.
• It states that the coupon rate on FRSB 2020 (T) for the period July 01, 2024, to December 31, 2024, and payable on January 1, 2025, shall remain at 8.05% (7.70%+0.35%).
[Notification no. - 2024-2025/603]
