Press Releases

The rate of interest on the Floating Rate Bonds, 1999 was set at 1.25 per cent over the average rate of the implicit cut-off yields for 364 Day Treasury Bills auctions held during the preceding half-year subject to a floor rate of 13 per cent. The average rate of the implicit yields at cut-off prices of 364 Day Treasury Bills auctions held during the half-year ending February 1999 is 10.41 per cent. Accordingly, the rate of interest on Floating Rate Bonds 1999 applicable for half-year ending September 29, 1999 shall be 13 per cent being the floor rate.