The Reserve Bank of India announced that the interest rate for the Government of India Floating Rate Bond 2034 (FRB 2034) for the period October 30, 2026 to April 29, 2027 will be 7.26 per cent annually. FRB 2034’s coupon is benchmarked to the average of the Weighted Average Yield (WAY) of the three preceding auctions (calculated from the rate-fixing date of October 30, 2026) of 182 Day T-Bills, augmented by a fixed spread of 0.98 per cent.