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The Reserve Bank of India sets the interest rate for the Government of India Floating Rate Bond 2033. The rate applies for the half-year period from September 22, 2026, to March 21, 2027. The interest rate is 6.87 percent per annum. This bond uses a coupon structure. The coupon includes a base rate and a fixed spread. The base rate equals the average of the Weighted Average Yield of the last three auctions of 182 Day T-Bills. The fixed spread is 1.22 percent.
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September 21, 2026
Rate of interest on Government of India Floating Rate Bond 2033
The rate of interest on Government of India Floating Rate Bond 2033 (FRB 2033) applicable for the half year September 22, 2026 to March 21, 2027 shall be 6.87 percent per annum.
It may be recalled that FRB 2033 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., September 22, 2026) of 182 Day T-Bills, plus a fixed spread (1.22 percent).
Ajit Prasad
Press Release: 2026-2027/1159 Deputy General Manager
(Communications)
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