Legal Entity Identifier Code

What is Legal Entity Identifier (LEI) Code?
The Legal Entity Identifier (LEI) is a 20-digit alphanumeric code used to identify parties to financial transactions worldwide.
Know more >> https://www.ccilindia-lei.co.in/ 

How to obtain Legal Entity Identifier (LEI) number?
Entities can obtain LEI from any of the Local Operating Units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF), the body tasked to support the implementation and use of LEI. So in India, LEI can be obtained from Legal Entity Identifier India Ltd. (LEIL) (https://www.ccilindia-lei.co.in), which is also recognized as an issuer of LEI by the Reserve Bank under the 'Payment and Settlement Systems Act, 2007'
For any queries or details, please feel free to contact your Relationship Manager/ Sales Manager/ Service Manager.
We assure you of our best services at all times.
Know more >> https://www.ccilindia-lei.co.in/

Why should Legal Entity Identifier (LEI) be provided?
As per RBI circular (Dated 5th January, 2021 "Introduction of Legal Entity Identifier for Large Value Transactions in Centralised Payment Systems" vide RBI/2020-21/82 DPSS.CO.OD No.901/06.24.001/2020-21), it is mandatory to mention Legal Entity Identifier (LEI) number & expiry for all initiating or receiving transactions of value INR 50 crore & above for entities (non-individuals) using Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT)  services. Effective April 1, 2021, 
Know more >> https://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=12010

When will Legal Entity Identifier (LEI) Code be effective from?
From  April 1, 2021, RBI has mandated to mention Legal Entity Identifier (LEI) number & expiry for all initiating or receiving transactions of value INR 50 crore & above for entities (non-individuals) using Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT)  services.

To whom is Legal Entity Identifier (LEI) Code applicable?
Effective April 1, 2021, LEI Code is applicable for all non-individual customers initiating or receiving transactions of INR 50 crore and above through RTGS and / or NEFT.

How to submit Legal Entity Identifier (LEI) Code along with expiry date to Bank?
LEI Code & expiry date need to be submitted to HDFC Branch on company's letter-head along with copy of CCIL LEI activation (https://www.ccilindia-lei.co.in/). For any queries or details, please feel free to contact your Relationship Manager/ Sales Manager/ Service Manager.
We assure you of our best services at all times.