Date: 17-April-2018
Extension in Timeline for OTC derivativesFor obtaining LEI's for OTC derivatives contracts
We have been advised by the RBI as follows.

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