Legal Entity Identifier mandatory for all large corporate borrowers: RBI

Posted on:04 Nov 2017 14:46:36
Legal Entity Identifier mandatory for all large corporate borrowers: RBI
04 November 2017 Current Affairs: The Reserve Bank of India (RBI) 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 rate, forex and credit derivative market.

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