BANKING AFFAIRS

Detailed explanation-1: -LEIL LEI. Legal Entity Identifier India Limited (CIN-U74900MH2015PLC268921) – A Wholly Owned Subsidiary of The Clearing Corporation of India Ltd. acts as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers (LEIs) in India.

Detailed explanation-2: -In India, LEI can be obtained from Legal Entity Identifier India Ltd. (LEIL) (https://www.ccilindia-lei.co.in/), which is also recognised as an issuer of LEI by the Reserve Bank of India (RBI). 2.

Detailed explanation-3: -The Legal Entity Identifier (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.

Detailed explanation-4: -LEI is a 20-digit unique code to identify parties to financial transactions worldwide. Per the timeline, borrowers with a total exposure above ₹25 crore have to obtain LEI by April 30, 2023, and borrowers with total exposure above ₹10 crore and up to ₹25 crore have to obtain LEI by April 30, 2024.

Detailed explanation-5: -The LEI is designed to enable the identification and linking of parties to financial transactions in order to manage counterparty risk. Its goal is to help improve the measuring and monitoring of systemic risk and support more cost-effective compliance with regulatory reporting requirements.