Legal Entity Identifier Current Affairs, GK & News
Legal Entity Identifier System
The Reserve Bank of India recently announced the introduction of Legal Entity Identifier System. What is Legal Entity Identifier System? The Reserve Bank of India introduced the Legal Entity Identifier system for all payment transactions of fifty crores and above through NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement). The system is ..
Month: Current Affairs - January, 2021
Category: Legal & Constitution Current Affairs
Topics: 2008 financial crisis • Legal Entity Identifier • NEFT • Payment and Settlement Systems Act • Reserve Bank of India (RBI) • RTGS
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 ..
Month: Current Affairs - November, 2017
Topics: Baking • Corporate Financing • Legal Entity Identifier • National • RBI
RBI to make LEI compulsory for companies with over Rs 5 crore exposure
The Reserve Bank of India (RBI) will soon make Legal Entity Identifier (LEI) compulsory for companies having aggregate fund-based and non-fund based exposure over Rs 5 crore. Before this, RBI made LEI mandatory for transactions in interest rate, forex and credit derivative market. LEI is a unique 20 digit alphanumeric code that will be assigned ..
Topics: Bank • Companies • Economy • Financial market • Financial services • Legal Entity Identifier • Reserve Bank of India