Economy
Government Floating-Rate Bond 2028 Coupon Set at 6.45%
The Government of India set the FRB 2028 interest rate at 6.45% annually for its next six-month period.
What happened
The Government of India said the Floating Rate Bond 2028 will pay 6.45% per annum from October 4, 2026, to April 3, 2027. Its coupon combines the average weighted average yield of the three latest 182-day Treasury bill auctions with a fixed 0.64 percentage-point spread.
Why it matters
Investors holding the bond have a confirmed six-month interest rate, while the coupon remains linked to recent 182-day Treasury bill yields.
Source: RBI