Mumbai : The Reserve Bank of India (RBI) today announced 8.87 per cent per annum interest on Floating Rate Bonds (FRB), 2017, applicable for half-year from January 2, 2012 to July 1, 2012). It may be recalled that the rate of interest on the FRB, 2017 was set at a mark-up (as decided in the auction held on July 1, 2002) over and above the variable base rate, a RBI 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 six auctions of Government of India 364-day Treasury Bills held up to the commencement of the respective half yearly coupon period, which works out to be 8.53 per cent.
Central Chronicle
