RBI announces rate of interest on Government of India Floating Rate Bond 2031

New Delhi, 06 June 2023: The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year June 7, 2023 to December 6, 2023 shall be 7.90 percent per annum.

It may be recalled that FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of last three auctions (from the rate fixing day i.e. June 7, 2023) of 182 Day T-Bills, plus a fixed spread of One percent.