RBI announces rate of interest on Government of India Floating Rate Bond 2024

Last updated: 09 November 2022

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The Reserve Bank of India has announced the interest rate for the Government of India Floating Rate Bond 2024. For the period of November 7, 2022, to May 6, 2023, the applicable interest rate will be 6.75% per annum. This rate is reset based on the average implicit yields of 182-day Treasury Bills from previous auctions.

Reserve Bank of India Date : Nov 04, 2022 RBI announces rate of interest on Government of India Floating Rate Bond 2024 The rate of interest on the Floating Rate Bond 2024 (FRB 2024) applicable for the half year November 07, 2022 to May 06, 2023 shall be 6.75 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

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FAQ :

The interest rate for the Floating Rate Bond 2024 for the half year November 7, 2022, to May 6, 2023, is 6.75 per cent per annum.

The current rate is applicable for the half year from November 7, 2022, to May 6, 2023.

The interest rate is reset at the average rate of the implicit yields of the last three auctions of Government of India 182-days Treasury Bills, rounded to two decimal places.

Implicit yields are computed by reckoning 365 days in a year.