RBI Announces Rate Of Interest on Floating Rate Bonds 2031 At 6.10%

The rate of interest on the Floating Rate Bonds, 2031 (FRB 2031) applicable for the half year December 7, 2019 to June 6, 2020 shall be 6.10 per cent per annum. The 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 that is December 7, 2019) of 182 Day T-bills, plus a fixed spread (100 bps). The Weighted average yields will be computed by reckoning 365 days in a year.

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