The interest rate on the Government of India Floating Rate Bond 2034 (FRB 2034) has been fixed at 7.26% per annum for the half-year period from October 30, 2026, to April 29, 2027.
The coupon rate of FRB 2034 is determined by adding a fixed spread of 0.98% to the average Weighted Average Yield (WAY) of the last three auctions of 182-day Treasury Bills preceding the rate-fixing date.
The revised interest rate will remain applicable throughout the specified six-month period.