20-digit LEI must for cross-border transactions soon: RBI Follow us on - LinkedIn - https://www.linkedin.com/in/aseem-aggarwal-1b365549/ Youtube - https://www.youtube.com/user/aseemaggarwal92 Twitter - https://twitter.com/aseem252 Blog - https://aseemconsult.blogspot.com/ The legal entity identifier is a 20-digit number used to uniquely identify parties to financial transactions globally to improve the quality and accuracy of financial data systems. Starting October next year, companies will have to quote the legal entity identifier (LEI) number so as to undertaking cross-border transactions of Rs 50 crore or more, the Reserve Bank of India (RBI) said on Friday. The LEI is a 20-digit number used to uniquely identify parties to financial transactions globally to improve the quality and accuracy of financial data systems. The identifier has been introduced by the central bank in a phased manner for participants in the over-the-...