RBI Mandates Legal Entity Identifier (LEI) for Entities w.e.f 1 April 2021
The Reserve Bank of India, on 5th January 2021 introduced a legal entity identifier (LEI) for the transactions of and above 50 crores or INR 500 million through entities (non-individuals) utilizing Reserve Bank-run Centralised Payment Systems i.e. RTGS (Real-time Gross Settlement) and NEFT (National Electronic Funds Transfer).