[ad_1]
RBI Interest Rate on Floating Rate Bonds: The Reserve Bank of India has increased the interest rates for its floating rate savings bonds. They have been increased from 7.15 per cent to 7.35 per cent. RBI has announced this through a press release on 30 December 2022. The change in this floating rate has come after the announcement in which the Central Government has increased the interest rates of National Savings Certificate (NSC).
Know why the interest rates of these bonds have increased
The change in the interest rates of these floating rate bonds of RBI is linked to the interest rates of NSC. According to the guidelines issued from June 26, 2020, the interest rates of floating rate bonds are 0.35 percent higher than NSC rates.
Interest rates have increased in small savings schemes only yesterday
SSC will get 7 percent interest rates after the interest hike of small savings schemes released only yesterday. These interest rates have been fixed for the January-March quarter of the financial year 2023-24. In this, an increase of 0.20 percent has been made against 6.8 percent of the previous quarter. In this way, the interest rates of NSC increased by 0.20 per cent and on the basis of this similar increase was also done in floating rate bonds of RBI.
According to RBI, floating rate bonds were available from 1 July 2020. Earlier, on July 1, 2021, interest rates of 7.15 percent were implemented for coupon payment. After this, with the NSE reaching the rate of 6.8 per cent, the first 7 per cent and 7.35 per cent interest rates for floating rate bonds were considered applicable.
The interest rates applicable on NSE are reviewed by the Central Government every quarter. The government changes these interest rates on the basis of which the formula of Shyamala Gopinath Committee was considered. According to this formula, the interest rates of many savings schemes of the government should be higher than the interest rates of government bonds between 0.25 percent to 1 percent.
read this also
[ad_2]
Source link