The Legal Entity Identifier (LEI) is a 20-digit alphanumeric code used to identify parties to financial transactions worldwide.
Entities can obtain LEI from any of the Local Operating Units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF), the body tasked to support the implementation and use of LEI. So in India, LEI can be obtained from Legal Entity Identifier India Ltd.
As per RBI circular (Dated 5th January, 2021 “Introduction of Legal Entity Identifier for Large Value Transactions in Centralised Payment Systems” vide RBI/2020-21/82 DPSS.CO.OD No.901/06.24.001/2020-21), it is mandatory to mention Legal Entity Identifier (LEI) number & expiry for all initiating or receiving transactions of value INR 50 crore & above for entities (non-individuals) using Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) services. Effective April 1, 2021,
Know more >> https://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=12010
From April 1, 2021, RBI has mandated to mention Legal Entity Identifier (LEI) number & expiry for all initiating or receiving transactions of value INR 50 crore & above for entities (non-individuals) using Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) services.
From April 1, 2021, RBI has mandated to mention Legal Entity Identifier (LEI) number & expiry for all initiating or receiving transactions of value INR 50 crore & above for entities (non-individuals) using Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) services.
Effective April 1, 2021, LEI Code is applicable for all non-individual customers initiating or receiving transactions of INR 50 crore and above through RTGS and / or NEFT.
