RBI says FRB 2031 to get 7.59% interest from Dec 7 to Jun 6
This story was originally published at 19:31 IST on 6 December 2024
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--[I] RBI says FRB 2031 to get 7.59% interest from Dec 7 to Jun 6
MUMBAI – The Reserve Bank of India on Friday said the rate of interest on the 2031 floating rate bond will be 7.59% for the six months from Dec. 7 to Jun. 6.
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 100 basis points. Currently, INR 1.40 trillion of the bond is outstanding. End
Reported by Vidhushi RajPurohit
Edited by Vandana Hingorani
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