Home > Practice > Current Affairs > May - 2024 > May 03, 2024
1. What is the initial interest rate set by RBI for the Floating Rate Bond maturing in 2034?
The Reserve Bank of India (RBI) has announced an initial interest rate of 8% for the Floating Rate Bond (FRB) maturing in 2034. This bond offers a variable interest rate that adjusts every six months based on short-term debt auction yields, providing investors with a flexible investment option tied to prevailing market conditions.