Financial Daily from THE HINDU group of publications
Friday, May 06, 2005
Financial Daily from THE HINDU group of publications Friday, May 06, 2005 |
|
|
|
|
|
Money & Banking
-
Govt Bonds Floating rate bond coupon at 5.66 pc Our Bureau
Mumbai , May 5 THE Reserve Bank of India fixed the rate of interest on the Floating Rate Bond, 2016 (FRB, 2016) at 5.66 per cent. The period of the bond is from May 7, 2005 to May 6, 2006. The rate of interest on the FRB, 2016 was set at a mark-up over and above the variable base rate. In a press release, the RBI said the variable base rate for payment of interest will be the average rate of the implicit yields at cut-off prices in the three auctions of the 364-day Treasury Bills, immediately preceding the relative annual coupon reset date. According to the release, the variable base rate works out to be 5.62 per cent. The mark-up decided in the auction held on May 6 was +00.4. The coupon rate has been fixed accordingly, it added.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|