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RBI announces 8.37% interest rate on floating rate bonds

The variable base rate 364-day of treasury bills is 8.23% pa

May 17, 2012 5:28 IST | India Infoline News Service
The Reserve Bank of India (RBI) said that rate of interest on the floating rate bonds, 2014 applicable for the year (20 May 2012 to 19 May 2013) is 8.37% per annum.

The central bank in a press release said, “The variable base rate for payment of interest shall be the average rate (rounded off up to two decimal places) of the implicit yields at cut-off prices of the last three auctions of Government of India 364 day Treasury Bills held up to 19 May 2012.” The variable base rate 364-day of treasury bills is 8.23% pa. The spread decided in the auction held on 19 May 2003 was 0.14%. The coupon rate has been fixed accordingly.

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