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The rate of interest on FRB 2024 is reset at the average rate (rounded off up to two decimal places) of the implicit yields, at the cut-off prices of the last three auctions of Government of India 182-days Treasury Bills, held up to the period preceding the coupon reset date, which is November 7, 2023.
The implicit yields are computed by reckoning 365 days in a year, the RBI statement said.
–Ajit Weekly News
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