Current Affairs - Economy - Discussion

Government has notified the new Floating Rate Savings Bonds (FRSB), 2020 (Taxable) Scheme in place of 7.75% Savings (Taxable) Bonds, 2018, with effect from July 1, 2020. The 7.75% Savings (Taxable) Bonds, 2018 Scheme was ceased for subscription from the close of banking business on May 28, 2020. The Floating Rate Savings Bonds, 2020 (Taxable) Scheme is going to issue a floating rate, taxable savings bond for an initial coupon of 7.15%, payable on January 1, 2021.