RBI fixes 7.77 pc rate of interest on floating rate bonds

Mumbai, June 5 (UNI) Reserve Bank of India today fixed 7.77 per cent rate of interest per annum on Government of India Floating Rate bonds.

It may be recalled that the rate of interest on the floating rate bonds, 2009 was set as a mark up over and above the variable base rate of the implicit yields at cut-off prices emerging in six auctions of government of India 364-day Treasury Bills, immediately preceeding the relative half yearly coupon reset date.

RBI also fixed the coupon rate according to the average rate of the implict yields at cut off prices of the last six auctions of the Government of India.

UNI