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of <h1>RBI Requires Legal Entity Identifier for Corporate Borrowers Over Rs. 50 Crore to Improve Risk Management.</h1> The Reserve Bank of India mandates the introduction of the Legal Entity Identifier (LEI) for large corporate borrowers to enhance financial data accuracy and risk management. LEI is a 20-digit code for identifying financial transaction parties globally. Banks must ensure borrowers with exposures of Rs. 50 crore and above obtain LEI by specified deadlines, with renewals following Global Legal Entity Identifier Foundation guidelines. Borrowers failing to comply will not receive credit facility renewals or enhancements. LEI can be obtained from accredited Local Operating Units, with Legal Entity Identifier India Ltd recognized in India. Instructions are issued under the Banking Regulation Act, 1949.
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