BANK NEWS
RBI announces rate of interest on Government of India Floating Rate Bonds 2024
The implicit yields will be computed by reckoning 365 days in a year.
New Delhi: The Reserve Bank of India announced the rate of interest on the Floating Rate Bonds, 2024 (FRB 2024) applicable for the half-year May 07, 2022, to November 06, 2022, shall be 4.41 percent per annum.
According to the RBI, 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 of Government of India 182-day Treasury Bills, held up to the period preceding the coupon reset date, which is May 07, 2022.
The implicit yields will be computed by reckoning 365 days in a year.
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