Introduction of Legal Entity Identifier (LEI) for cross border transactions undertaking capital or current account transactions of 50 crore and above (per transaction) w.e.f. October 1, 2022

Introduction of Legal Entity Identifier (LEI) for cross border transactions undertaking capital or current account transactions of 50 crore and above (per transaction) w.e.f. October 1, 2022

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Introduction of Legal Entity Identifier (LEI) for cross border transactions undertaking capital or current account transactions of 50 crore and above (per transaction) w.e.f. October 1, 2022

What is a Legal Entity Identifier?
The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide to improve the quality and accuracy of financial data systems. LEI has been introduced by the Reserve Bank in a phased manner for participants in the over the counter (OTC) derivative, non-derivative markets, large corporate borrowers and large value transactions in centralized payment systems.
Complete circular is being attached herewith for further reference as under:

 

Introduction of Legal Entity Identifier (LEI) for cross border transactions undertaking capital or current account transactions of 50 crore and above (per transaction) w.e.f. October 1, 2022

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