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ARTICLE · 15 APRIL 2026

Master Direction On Unique Identifiers In Financial Markets, 2026

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Reserve Bank of India ("RBI") has issued the Master Direction – Reserve Bank of India (Unique Identifiers in Financial Markets) Directions, 2026, ("Master Direction")...

IndiaFinance and Banking
Radhika Raman
Radhika Raman
Sudhanshu Singh
Sudhanshu Singh
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Reserve Bank of India (“RBI”) has issued the Master Direction – Reserve Bank of India (Unique Identifiers in Financial Markets) Directions, 2026, (“Master Direction”) vide Notification No. FMRD.MIOD.9/11.01.057/2025-26 dated March 27, 2026. This Master Direction has consolidated the following list of circulars:

a) FMRD.FMID.No.14/11.01.007/2016-17 dated June 01, 2017

b) FMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018

c) FMRD.FMID.No.15/11.01.007/2018-19 dated April 26, 2019

d) FMRD.FMID.No.24/11.01.007/2019-20 dated March 27, 2020

e) CO.FMRD.MIOD.No.8/11.01.057/2025-26 dated February 18, 2026

and streamlined the regulatory framework for the implementation of two critical global identifiers: the Legal Entity Identifier (“LEI”) and the Unique Transaction Identifier (“UTI”).

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