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Legal Entity Identifier India: Extension of March 31 2020 deadline

As of 27 March 2020, the Reserve Bank of India has announced an extension of Phase III deadline for money markets. The initial deadline of March 31 2020 has been extended to September 30 2020. This affects entities with net worth of up ₹ 200 crore.

Below you can find the full statement by RBI:

Source: Reserve Bank of India

RBI/2019-20/185
FMRD.FMID.No.24/11.01.007/2019-20

March 27, 2020

To

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.

Yours faithfully

(Dimple Bhandia)
General Manager-in-Charge