FRB 2028 Interest Rate Set at 6.17%
Summary
The Reserve Bank of India announced that the interest rate on the Government of India Floating Rate Bond 2028 (FRB 2028) will be 6.17% per annum for the half year April 4, 2026 to October 3, 2026. The rate is calculated based on the average Weighted Average Yield of the last three 182-Day Treasury Bill auctions plus a fixed spread of 0.64%.
What changed
The RBI has published the applicable interest rate for the Government of India Floating Rate Bond 2028 (FRB 2028) for the upcoming half-year period. The rate is set at 6.17% per annum, derived from the weighted average yield of the last three 182-Day T-Bill auctions plus a fixed spread of 0.64%.
This is a routine semi-annual rate announcement. FRB 2028 bondholders should note the updated coupon rate of 6.17% for the period April 4, 2026 through October 3, 2026. No action is required beyond updating records to reflect the new rate. Press Release reference: 2026-2027/15.
Source document (simplified)
Press Releases
| () | |
| Date : Apr 02, 2026 | |
| Rate of Interest on Government of India Floating Rate Bond 2028 | |
| | The rate of interest on Government of India Floating Rate Bond 2028 (FRB 2028) applicable for the half year April 04, 2026 to October 03, 2026 shall be 6.17 per cent per annum.
It may be recalled that FRB 2028 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e., April 04, 2026) of 182 Day T-Bills, plus a fixed spread (0.64 per cent).
Ajit Prasad
Deputy General Manager
(Communications)
Press Release: 2026-2027/15 | | The rate of interest on Government of India Floating Rate Bond 2028 (FRB 2028) applicable for the half year April 04, 2026 to October 03, 2026 shall be 6.17 per cent per annum.
It may be recalled that FRB 2028 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e., April 04, 2026) of 182 Day T-Bills, plus a fixed spread (0.64 per cent).
Ajit Prasad
Deputy General Manager
(Communications)
Press Release: 2026-2027/15 |
| The rate of interest on Government of India Floating Rate Bond 2028 (FRB 2028) applicable for the half year April 04, 2026 to October 03, 2026 shall be 6.17 per cent per annum.
It may be recalled that FRB 2028 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e., April 04, 2026) of 182 Day T-Bills, plus a fixed spread (0.64 per cent).
Ajit Prasad
Deputy General Manager
(Communications)
Press Release: 2026-2027/15 | |
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