The Reserve Bank of India vide circular dated March 27, 2020, has extended timeline for obtaining legal entity identifier. RBI has, vide circular dated November 29, 2018, mandated obtaining a Legal Entity Identifier (LEI) for participation in non-derivative markets. Timeline was provided for implementation of the requirement in three stages. The timeline for implementation of (Phase III) is been extended by this circular.
In the context of the difficulties arising from the outbreak of novel Coronavirus disease (COVID-19), and with a view to enable smoother implementation of the LEI system in non-derivative markets, the timeline for entities with net worth up to Rs. 200 crore to comply with the requirement is extended till September 30, 2020.
Click here to read the Circular.
