On October 23, 2025, the Reserve Bank of India (RBI) released a draft circular on the Unique Transaction Identifier (UTI) for OTC Derivative Transactions in India. The circular is available on the RBI website (www.rbi.org.in). Comments on the draft circular are invited from banks, market participants, and other interested parties by November 14, 2025.
Feedback on the draft circular can be sent to:
The Chief General Manager
Reserve Bank of India
Financial Markets Regulation Department
9th Floor, Central Office Building
Shahid Bhagat Singh Marg, Fort
Mumbai - 400 001
Or via email with the subject line "Feedback on Draft Circular on Unique Transaction Identifier for OTC Derivative Transactions in India".
The UTI, along with the Legal Entity Identifier (LEI), is a key data element for reporting OTC derivative transactions. The LEI identifies counterparties, while the UTI provides a unique reference number for each transaction. The reporting of LEI has been mandated for OTC derivative transactions in most major jurisdictions globally. LEI has already been implemented in India, and the proposal is to mandate UTI for all OTC derivative transactions.
Press Release: 2025-2026/1367. Brij Raj, Chief General Manager. Phone: 022 - 2266 0502, email: helpdoc@rbi.org.in.
Key Entities Referenced
Draft circular on Unique Transaction Identifier for OTC Derivative Transactions in India: Draft circular released by the Reserve Bank of India concerning the unique transaction identifier for over-the-counter derivative transactions in India.
Reserve Bank of India: The central bank of India, the issuer of the draft circular.
Mumbai: Location of the Reserve Bank of India central office.
Unique Transaction Identifier (UTI): A key data element identified globally for reporting of OTC derivative transactions.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
October 23, 2025
RBI releases Draft circular on Unique Transaction Identifier for OTC Derivative
Transactions in India
The Reserve Bank of India today placed on its website a Draft circular on Unique
Transaction Identifier for OTC Derivative Transactions in India. Comments on the
draft Circular are invited from banks, market participants and other interested parties
by November 14, 2025.
Feedback on the draft Circular may be forwarded to:
The Chief General Manager
Reserve Bank of India
Financial Markets Regulation Department
9th Floor, Central Office Building
Shahid Bhagat Singh Marg, Fort
Mumbai – 400 001
Or by email with subject line “Feedback on Draft Circular on Unique Transaction
Identifier for OTC Derivative Transactions in India”.
Background and Objective
Unique Transaction Identifier (UTI) is one of the key data elements identified
globally for reporting of OTC derivative transactions, along with the Legal Entity
Identifier (LEI). While the LEI uniquely identifies the counterparties to an OTC
derivative transaction, the UTI serves as a single unique reference number for a
transaction. It enables policy makers to obtain a comprehensive view of OTC
derivatives markets by facilitating global aggregation of transactions. The reporting of
LEI has been mandated for OTC derivative transactions in most major jurisdictions
globally. UTI has also been implemented / is in the process of being implemented in
many of the major jurisdictions. In India, LEI has already been implemented. It is now
proposed to mandate UTI for all OTC derivative transactions.
(Brij Raj)
Press Release: 2025-2026/1367 Chief General Manager