RBI fixes rate of interest on FRB,2020

The Reserve Bank of India (RBI) has fixed the rate of interest on the floating rate bonds, 2020 (FRB, 2020), applicable for the half year June 21 to December 20 at 7.80 per cent per annum. Earlier the rate of interest was set at average rate of the implicit yields at the cut-off prices of the last three auctions of 182 day treasury bills held up to period preceding the coupon reset date,which is June 21.