2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7.35%
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6.15%
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6.75%
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7.15%
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Detailed explanation-1: -In place of the RBI 7.75% Savings Bonds, the government has issued Floating Rate Savings Bonds 2020 (Taxable) with an interest rate of 7.15% per annum. These bonds are similar to the former bonds issued by the government in terms of tenure, taxation, and withdrawal conditions.
Detailed explanation-2: -The rate of interest on Government of India Floating Rate Bond 2028 (GOI FRB 2028) applicable for the half year October 04, 2022 to April 03, 2023 shall be 7.01 per cent per annum.
Detailed explanation-3: -Accordingly, the coupon rate on FRSB 2020 (T) for period January 1, 2023 to June 30, 2023 and payable on July 1, 2023 has been reset at 7.35% (7%+0.35%= 7.35%).
Detailed explanation-4: -2. Accordingly, the coupon rate on FRSB 2020 (T) for period July 1, 2022 to December 31, 2022 and payable on January 1, 2023 remains at 7.15% (6.80% +0.35%), unchanged from the previous half-year.
Detailed explanation-5: -2. The coupon rate on FRSB 2020 (T) for period January 1, 2022 to June 30, 2022 and payable on July 1, 2022 remains at 7.15% (6.80%+0.35%= 7.15%), unchanged from the previous half-year.