RBI announces rate of interest on Floating Rate Bonds, 2020By RBI
Friday, June 18, 2010
The rate of interest on the Floating Rate Bonds, 2020 (FRB, 2020) applicable for the half year June 21, 2010 to December 20, 2010 shall be 4.92 percent per annum.
It may be recalled that the rate of interest on the FRB, 2020 was set at 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 period preceding the coupon reset date, which is June 21. The implicit yields will be computed by reckoning 365 days in a year. The coupon rate has been fixed accordingly.
Press Release : 2009-2010/1724