 "RBI, Reserve Bank of India")
The Reserve Bank of India (RBI) on Friday made Legal Entity Identifier (LEI) mandatory for cross-border transactions for capital or current account transactions of Rs 50 crore and above, from October 1 next year.
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. The LEI numbers are maintained in a global LEI database available on the website of the Global Legal Entity Identifier Foundation (GLEIF).
LEI has been introduced by the Reserve Bank in a phased manner for over the counter (OTC) derivative, non-derivative markets,
