RBI says FRB 2034 to get 7.53% interest from Oct 30 to Apr 29
This story was originally published at 19:06 IST on 29 October 2024
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NEW DELHI – The Reserve Bank of India on Tuesday said the rate of interest on the 2034 floating rate bond will be 7.53% for the six months from Oct. 30 to Apr. 29.
The rate of interest on the floating rate bond is based on the average rate of the implicit yields at cut-off prices of the last three auctions of 182-day Treasury bills, plus a fixed spread of 98 basis points. Currently, INR 548 billion of the bond is outstanding. End
Reported by Siddharth Upasani
Edited by Vandana Hingorani
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