The rate of interest on the Floating Rate Bonds, 2024 (FRB 2024) applicable for the half year November 07, 2020 to May 06, 2021 shall be 3.36% per annum. The rate of interest on the FRB, 2024 shall be reset at the average rate (rounded off up to two decimal places) of the implicit yields, at the cut-off prices of the last three auctions of Government of India 182 day Treasury Bills, held up to the period preceding the coupon reset date, which is November 07, 2020. The implicit yields will be computed by reckoning 365 days in a year.
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