India sets FRB 2028 coupon at 6.45% for Oct 2026-Apr 2027

The Reserve Bank of India announced a 6.45% per annum interest rate for the Government of India Floating Rate Bond 2028 for the half-year October 2026 to April 2027, based on the average yield of recent 182-day T-bill auctions plus a 0.64% spread. This is a routine administrative update reflecting current short-term rates, with no deviation from the established formula. It signals prevailing Indian money-market conditions but carries limited market-moving significance.