Date: 27-June-2018
Extension in timeline for OTC Derivatives
RBI has advised as follows:

Given the pendency of application due to spurt in application , it has been decided to allow banks to book OTC derivative contracts for corporates without LEI code provide that- banks satisfy themselves that the corporates has already applied for LEI code at the time of booking of contract. This extension of timeline is permitted till end of September 2018. Post September 30, 2018, only those corporates who have already obtained LEI code or have applied for LEI code by September 30, 2018, will be allowed to book OTC derivative contracts. Other corporates may book OTC derivative contracts only after obtaining LEI code.