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Introduction of Legal Entity Identifier for Cross-border Transactions - FEMA - 20

Extract

..... e, non-derivative markets, large corporate borrowers and large value transactions in centralised payment systems. 2. In order to further harness the benefits of LEI, it has been decided that AD Category I banks, with effect from October 1, 2022, shall obtain the LEI number from the resident entities (non-individuals) undertaking capital or current account transactions of ₹50 crore and above (per transaction) under FEMA, 1999. As regards non-resident counterparts/ overseas entities, in case .....

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Introduction of Legal Entity Identifier for Cross-border Transactions - FEMA

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..... the GLEIF, the body tasked to support the implementation and use of LEI. 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 under the Payment and Settlement Systems Act, 2007. The rules, procedures and documentation requirements may be ascertained from LEIL. 6. The directions contained in this circular are being issued under sections 10(4) and 11(1) of the Foreign Exchan .....

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Introduction of Legal Entity Identifier for Cross-border Transactions - FEMA

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