Rate of Interest on Government of India Floating Rate Bond 2028 Announced
The Reserve Bank of India announced the interest rate for the Government of India Floating Rate Bond 2028 (FRB 2028) for the six-month period spanning April 04, 2026, to October 03, 2026.The applicable rate of interest for the FRB 2028 for this period is set at 6.17 per cent per annum.
The document noted that the FRB 2028 coupon is based on a rate structure. This rate carries a base rate equivalent to the average of the Weighted Average Yield (WAY) of the last three auctions. This calculation incorporates the rate fixing day auction, specifically the T-Bills, along with a fixed spread of 0.64 per cent.
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