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Legal Entity Identifiers
January 12 , 2021
1408 days
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- The Reserve Bank of India informed that the legal entity identifiers will be mandatory for all the fund transfers worth Rs. 50 crores and above.
- It is a 20-digit number that will be used to uniquely identify the parties involved in financial transactions all over the world.
- It will help banks and regulators in tracking large value transactions more closely.
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