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:
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