<h1>RBI Proposes Legal Entity Identifier for Non-Derivative Markets to Boost Transparency and Risk Management; Feedback Due June 30, 2018.</h1> The Reserve Bank of India (RBI) has issued draft directions for the implementation of the Legal Entity Identifier (LEI) code in non-derivative financial markets, aiming to enhance transparency and risk management. The LEI, a 20-character unique identity code, is required for entities participating in government securities, money, and foreign exchange markets, excluding transactions below USD 0.1 million. The implementation will occur in phases based on net worth, with deadlines ranging from October 2018 to October 2019. Feedback on the draft is invited by June 30, 2018. The LEI system is already in use for derivative markets.