India cbank sets 7.62 pct coupon on 2016 FRB for year to May 6, 2014

India cbank sets 7.62 pct coupon on 2016 FRB for year to May 6, 2014

Last Updated: Wed, May 01, 2013 22:02 hrs

MUMBAI, April 30 (Reuters) - India's central bank set a coupon of 7.62 percent on 2016 floating rate bonds (FRB) for the year from May 7, 2013 to May 6, 2014, it said in a release on Tuesday.

The variable base rate, based on the average rate of the implicit cut-off yields at the last three auctions of 364-day treasury bills, worked out to be 7.58 per cent, the central bank said. The mark-up decided in the auction held on May 6, 2004 was (+) 0.04 (plus 0.04). The coupon rate has been fixed accordingly, the RBI said. (Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)



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