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RBI announces rate of interest on Government of India Floating Rate Bond, 2031- (Reserve Bank of India) (06 Jun 2022)

MANU/RPRL/0230/2022

Banking

The rate of interest on Government of India Floating Rate Bond, 2031 (FRB 2031) applicable for the half year June 7, 2022 to December 6, 2022 shall be 6.42 percent per annum.

It may be recalled that FRB, 2031 will carry a coupon, which will have a base rate equivalent to the Weighted Average Yield (WAY) of last 3 auctions (from the rate fixing day i.e. June 7, 2022) of 182 Day T-Bills, plus a fixed spread of one percent. The Weighted average yields will be computed by reckoning 365 days in a year.

Tags : INTEREST RATE ANNOUNCEMENT FLOATING RATE BOND

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