Financial Daily from THE HINDU group of publications
Tuesday, Nov 23, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 23, 2004 |
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Money & Banking
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Interest Rates RBI sets floater rate at 5.37% Our Bureau
Mumbai , Nov. 22 THE Reserve Bank of India set the rate of interest on the Floating Rate Bonds, 2006 (FRB, 2006) at 5.37 per cent per annum applicable for the half-year November 22, 2004 to May 21, 2005. According to a RBI release, the variable base rate based on the average rate of the implicit yields at cut-off prices of the last six auctions of Government of India 364-day Treasury Bills worked out to be 5.42 per cent. The coupon rate on FRB was decided as per the mark-up of (-)0.05 as per the auction held on November 21, 2001. The coupon rate was worked out to be 5.37 per cent.
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