Management Report: RBI Master Direction on Credit Derivatives 2026 Following the Union Budget announcement for FY 2026-27, the Reserve Bank of India (RBI) has issued the Master Direction on Credit Derivatives 2026. This comprehensive framework introduces landmark changes, specifically enabling derivatives on credit indices and Total Return Swaps (TRS) on corporate bonds. 1. Expansion of […]

Executive Summary The Reserve Bank of India (RBI) has consolidated its existing guidelines regarding the Legal Entity Identifier (LEI) and Unique Transaction Identifier (UTI) into a comprehensive Master Direction. Aimed at improving regulatory accessibility and the ease of doing business, this directive reinforces the global standardization of data reporting for Over-The-Counter (OTC) derivative transactions and