The rate of interest on the Floating Rate Bonds, 2020 (FRB 2020) applicable for the half year June 21, 2018 to December 20, 2018 shall be 6.87% per annum.

It may be recalled that the rate of interest on FRB, 2020 is set at the average (rounded off to two decimal places) of implicit yields at the cut-off prices, of the last three auctions of GoI 182 day Treasury Bills, held up to period preceding the coupon reset date, which is June 21, 2018. 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 : 2017-2018/3319