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Legal Entity Identifier mandatory for all large corporate borrowers: RBI

The Reserve Bank of India (RBI) has made 20-digit Legal Entity Identifier (LEI) compulsory for companies having aggregate fund-based and non-fund based exposure over Rs 5 crore. The move is aimed at improving risk management in wake of huge stressed assets in banking system. Before this, RBI had made LEI mandatory for transactions in interest ..

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Akodara becomes India’s first Digital Village

Akodara village in Sabarkantha district of Gujarat has earned the coveted tag of becoming India’s first digital village. The village with a total population of 1,191 people and 250 households uses a various cashless system for payments of goods and services. All transactions in the village are carried out through digital modes like SMS, net-banking ..

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