March 27, 2020
All eligible market participants
Dear Sir/Madam, Legal Entity Identifier: Extension of deadline
A reference is invited to circular FMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018 issued by Reserve Bank of India on requirement of Legal Entity Identifier (LEI) for participation in non-derivative markets. Reference is also invited to circular FMRD.FMID.No.15/11.01.007/2018-19 dated April 26, 2019 on revised timelines for implementation of LEI for non-derivative markets.
2. Based on the feedback and requests received from market participants, in the context of the difficulties arising from the outbreak of novel coronavirus disease (COVID-19), and with a view to enabling smoother implementation of the LEI system in non-derivative markets, the timeline for implementation (Phase III) is extended as under:
|Phase ||Net Worth of Entities ||Current Deadline ||Extended Deadline |
|Phase III ||Up to ₹ 200 crore ||March 31, 2020 ||September 30, 2020 |
3. These directions are issued under section 45W, read with section 45U, of the Reserve Bank of India Act, 1934.