Question
RBI made Legal Entity Identifier (LEI) mandatory for
cross-border transactions for capital or current account transactions of Rs 50 crore and above, from ___________.Solution
RBI made Legal Entity Identifier (LEI) mandatory for cross-border transactions for capital or current account transactions of Rs 50 crore and above, from October 1, 2022. The 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.
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