RBI sets 6.45% coupon for FRB 2028 half-year
In short
The Reserve Bank of India fixed the rate on Government of India Floating Rate Bond 2028 at 6.45% a year for the period from 4 October 2026 to 3 April 2027. It said the rate is tied to the average yield from the last three 182-day Treasury bill auctions, plus a 0.64% spread.
This matters for people holding the bond because their interest payment is being reset. The reporting does not say how many investors are affected or whether the change alters demand.
What the reporting says
The Reserve Bank of India set the interest rate on Government of India Floating Rate Bond 2028 at 6.45% per year for the half-year from October 4, 2026 to April 3, 2027. The RBI said the coupon is based on the average yield of the last three 182-day T-bill auctions plus a fixed spread of 0.64%. The immediate effect is a reset for bondholders; other implications are not stated in the available reporting.
Why it matters
The Reserve Bank of India announced a 6.45% annual interest rate for Government of India Floating Rate Bond 2028 for the half-year starting October 4, 2026. The RBI said the coupon uses the average yield of the last three 182-day T-bill auctions plus a 0.64% fixed spread. This affects existing FRB 2028 holders and potential buyers, but the reporting does not say how much they will earn in rupee terms.