RBI Announces 6.22% Interest Rate on India Government Floating Rate Bond 2028; Imposes Penalty on HDB Financial Services

The Reserve Bank of India (RBI) has set the interest rate at 6.22% per annum for the India Government Floating Rate Bond 2028 for the half-year period from October 4, 2025, to April 3, 2026. This announcement reflects the central bank's ongoing measures to align government securities with prevailing market conditions and investor expectations.

Key Highlights on Interest Rate

The floating rate bond offers investors a variable interest rate linked to prevailing benchmark rates, providing protection against rate volatility

The 6.22% p.a. rate indicates a moderate yield environment amidst ongoing monetary policy calibrations

RBI’s Monetary Penalty on HDB Financial Services

Separately, RBI has imposed a monetary penalty on HDB Financial Services for non-compliance with regulatory norms

The penalty underscores the central bank’s commitment to enforcing financial discipline and protecting stakeholders’ interests

HDB Financial Services is required to rectify identified discrepancies and adhere to RBI guidelines strictly

With these latest actions, RBI continues to balance monetary stability with regulatory oversight, reinforcing disciplined financial governance in India’s banking and non-banking sectors.

Sources: Reserve Bank of India Official Statements, Financial News Reports