Home Economy 3.6% interest on GoI floating rate bonds

3.6% interest on GoI floating rate bonds

by BQ News Bureau
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The rate of interest on the Floating Rate Bonds, 2024 (FRB 2024), applicable for the half-year November 7, 2020, to May 6, 2021, is 3.36 per cent per annum.

It may be recalled that the rate of interest on the FRB, 2024, shall be 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 7. The implicit yields will be computed by reckoning 365 days in a year.

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