Providing services designed to help register new LEIs, LEI Register is offering assistance to their clients in understanding and navigating the new regulations established by the Reserve Bank of India, which expand the necessity of LEIs.
January 24, 2022 —
LEI Register is an online service that is designed to make it quick and easy for clients to receive their Legal Entity Identifier in hours, rather than days. This service is likely to become a lot more relevant to a wider range of clients, as the Reserve Bank of India has just signed into action regulations that make LEIs mandatory for cross-border transitions of ₹50 Crores and above.
LEIs, or Legal Entity Identifiers, are 20-digit unique numbers that are designed to assign identities to parties involved in financial transitions worldwide. Their purpose is to improve the accuracy and transparency of transactions, allowing for high-quality financial data systems, and providing risk management for parties involved in international trade. As a result of the latest regulations from the RBI, these codes are now mandatory for any legal entity that wishes to make transactions (including capital) of ₹50 Crores and above.
As of 1st October 2022, AD Category 1 banks will be seeking to obtain LEI numbers from any entities that are aiming to participate in transactions of ₹50 Crores or more. LEI Register is an online service that enables clients to apply for and receive an LEI, often in a matter of hours rather than days. Support all types of companies in India, they have a simple process, by which clients can fill in a quick form. Upload the necessary documents to prove the registration of the company, and pay the fee for their chosen renewal period.
Aside from helping organizations and companies register a new Legal Entity Identifier, LEI Register also has services to renew existing LEI numbers, as well as to transfer LEI numbers from one entity to another. Given that the regulations are set to take effect later this year, LEI Register recommends that any companies likely to be affected take action as soon as possible to avoid being caught unable to take place in future transactions.
If you want to learn more LEI Register, the new regulations put in place by the Reserve Bank of India, or how you can get your LEI register as soon as possible, visit their website at https://www.legalentityidentifier.in/.
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Notes for the Editor: Please address and send any press inquiries to Rahul Jha, who can be reached by mail at G 0615, City Centre, Matigara, Siliguri, West Bengal 734010, India, or by calling 9326921137 on the phone. All email inquiries can be sent directly to rahul.jha40@yahoo.com.
Contact Info:
Name: Rahul Jha
Email: Send Email
Organization: LEI Register
Address: G 0615, City Centre, Matigara, Siliguri, West Bengal 734010, India
Phone: 9326921137
Website: https://www.legalentityidentifier.in/
Source:
Release ID: 89061425
