The rate of interest on the Floating Rate Bonds, 2024 (FRB 2024) applicable for the half year November 07, 2018 to May 06, 2019 shall be 7.22 percent per annum.

It may be recalled that the rate of interest on the FRB, 2024 was set 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 November 07. The implicit yields will be computed by reckoning 365 days in a year. The coupon rate has been fixed accordingly.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1069