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India cbank sets 9.33 pct coupon on 2017 FRB for half-year to July 1, 2014
December 31, 2013 / 12:17 PM / 4 years ago

India cbank sets 9.33 pct coupon on 2017 FRB for half-year to July 1, 2014

MUMBAI, Dec 31 (Reuters) - India’s central bank set a coupon of 9.33 percent on 2017 floating rate bonds (FRB) for the half year from Jan. 2, 2014 to July 1, 2014, it said in a statement on Tuesday.

The rate of interest on the FRB 2017 was set at the average rate of the implicit yields at the cut-off prices of the last six auctions of 364-day treasury bills which worked out to be 8.89 percent, the Reserve Bank of India said. (Reporting by Himank Sharma; Editing by Sunil Nair)

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