The Reserve Bank of India (RBI) on October 29, 2024, issued the notification regarding the Rate of interest on Government of India Floating Rate Bond 2034.
The following has been stated namely: -
• The rate of interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year October 30, 2024 to April 29, 2025 shall be 7.53 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 last three auctions (from the rate fixing day i.e., October 30, 2024) of 182 Day T-Bills, plus a fixed spread (0.98 per cent).
[Press Release: 2024-2025/1395]
