Document title: Rate of interest on Government of India Floating Rate Bond 2033
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/1159
Date: September 21, 2026
Policy Rates and Liquidity
The Reserve Bank of India has fixed the rate of interest on the Government of India Floating Rate Bond 2033 (FRB 2033) for the half‑year period from September 22, 2026 to March 21, 2027 at 6.87 percent per annum. The coupon of FRB 2033 is composed of a base rate that equals the average Weighted Average Yield (WAY) of the last three auctions of 182‑day Treasury Bills as of the rate‑fixing day (September 22, 2026), to which a fixed spread of 1.22 percent is added.
Capital Markets and Flows
The announced rate applies to the FRB 2033, a floating‑rate government security, indicating the RBI’s use of market‑linked yields to price sovereign debt and reflecting prevailing short‑term Treasury Bill yields in the capital markets.
Regulatory and Policy Measures
The announcement is issued as Press Release 2026-2027/1159 by Deputy General Manager Ajit Prasad of the Communications division, demonstrating the RBI’s standard communication protocol for monetary and market‑related disclosures.
The RBI’s setting of the FRB 2033 rate at 6.87% underscores the current level of short‑term Treasury Bill yields plus the prescribed spread, providing market participants with a transparent benchmark for floating‑rate sovereign borrowing.