{"id":265758,"date":"2022-04-22T10:00:20","date_gmt":"2022-04-22T04:30:20","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=265758"},"modified":"2022-04-22T09:41:00","modified_gmt":"2022-04-22T04:11:00","slug":"borrowers-with-exposure-of-rs-5-crores-and-above-have-to-obtain-legal-entity-identifier","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/22\/borrowers-with-exposure-of-rs-5-crores-and-above-have-to-obtain-legal-entity-identifier\/","title":{"rendered":"Borrowers with exposure of Rs 5 crores and above have to obtain Legal Entity Identifier? Know what RBI says"},"content":{"rendered":"<p style=\"text-align: justify;\">The guidelines on LEI stand extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs). The non-individual borrowers enjoying aggregate exposure of \u20b95 crores and above from banks and financial institutions (FIs) shall be required to obtain LEI codes as per the timeline.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\"><strong>Timeline for obtaining LEI by borrowers<\/strong><\/span><\/p>\n<table width=\"87%\">\n<tbody>\n<tr>\n<td width=\"51%\"><strong>Total Exposure<\/strong><\/td>\n<td width=\"49%\"><strong>LEI to be obtained on or before<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Above \u20b925 crore<\/td>\n<td>April 30, 2023<\/td>\n<\/tr>\n<tr>\n<td>Above \u20b910 crore, up to \u20b925 crore<\/td>\n<td>April 30, 2024<\/td>\n<\/tr>\n<tr>\n<td>\u20b95 crore and above, up to \u20b910 crore<\/td>\n<td>April 30, 2025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\"><strong>What does the term exposure mentioned above mean?<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">\u201cExposure\u201d for this purpose shall include all fund based and non-fund based (credit as well as investment) exposure of banks\/FIs to the borrower. Aggregate sanctioned limit or outstanding balance, whichever is higher, shall be reckoned for the purpose. Lenders may ascertain the position of aggregate exposure based on information available either with them, or CRILC database or declaration obtained from the borrower.<\/p>\n<p style=\"text-align: justify;\">Borrowers who fail to obtain LEI codes from an authorized Local Operating Unit (LOU) shall not be sanctioned any new exposure nor shall they be granted renewal\/enhancement of any existing exposure. However, Departments\/Agencies of Central and State Governments (not Public Sector Undertakings registered under Companies Act or established as Corporation under the relevant statute) shall be exempted from this provision.<\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><strong>Reserve Bank of India<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>[Notification dt. 21-4-2022]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The guidelines on LEI stand extended to Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Financial Companies (NBFCs). The non-individual borrowers enjoying aggregate <\/p>\n","protected":false},"author":8808,"featured_media":253309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,1188,2],"tags":[9631,4311,49243,44743],"class_list":["post-265758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business_news","category-hot_off_the_press","category-news","tag-banks","tag-borrowers","tag-financial-institution","tag-legal-entity-identifier"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Borrowers with exposure of Rs 5 crores and above have to obtain Legal Entity Identifier? 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It was conceived as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. \u00a0LEI has been\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":258488,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/12\/14\/rbi-introduces-legal-entity-identifier-for-cross-border-transactions\/","url_meta":{"origin":265758,"position":1},"title":"RBI introduces Legal Entity Identifier for Cross-border Transactions","author":"Prachi Bhardwaj","date":"December 14, 2021","format":false,"excerpt":"The Reserve Bank of India has introduced legal entity identifier for cross-border transactions vide notification dated December 10, 2021. \u00a0 Key highlights: The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide to improve the quality and accuracy of financial data systems.\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":253578,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/02\/borrowers-have-protection-against-arbitrary-disposal-of-properties-mortgaged-to-banks\/","url_meta":{"origin":265758,"position":2},"title":"If Banks have to survive, borrowers must exist and not mere borrowers but productive borrowers: Del HC on whether borrowers have protection against arbitrary disposal of properties mortgaged to banks at low prices? [In-depth Report]","author":"Bhumika Indulia","date":"September 2, 2021","format":false,"excerpt":"Delhi High Court: Asha Menon, J., expressed that, The Banks seek collaterals and security to prevent losses to themselves. It is, but reasonable, to expect the Banks such as the respondent, to also respect the right of the borrowers to maximize their profits from the sale of collaterals\/securities by the\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":339530,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/01\/22\/modification-of-direction-on-rbi-arc-directions-legal-news\/","url_meta":{"origin":265758,"position":3},"title":"RBI streamlines guidelines for ARC &#8211; borrower settlements","author":"Kriti","date":"January 22, 2025","format":false,"excerpt":"Borrowers with dues of more than Rs. 1 crore can settle their amount only after IACs evaluation.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Reserve Bank of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":223244,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/13\/cabinet-approves-partial-credit-guarantee-scheme-for-purchase-of-high-rated-pooled-assets-from-financially-sound-nbfcs-hfcs-by-psbs\/","url_meta":{"origin":265758,"position":4},"title":"Cabinet approves &#8220;Partial Credit Guarantee Scheme&#8221; for purchase of high-rated pooled assets from financially sound NBFCs\/HFCs by PSBs","author":"Bhumika Indulia","date":"December 13, 2019","format":false,"excerpt":"Union Cabinet, has given its approval to the following: \"Partial Credit Guarantee Scheme\", to be offered by the Government of India (Gol) to Public Sector Banks (PSBs) for purchasing high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs) \/ Housing Finance Companies (HFCs), with the amount of overall guarantee\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":267760,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/02\/master-direction-reserve-bank-of-india-variation-margin-directions-2022\/","url_meta":{"origin":265758,"position":5},"title":"RBI issues Master Direction \u2013 RBI (Variation Margin) Directions, 2022","author":"Bhumika Indulia","date":"June 2, 2022","format":false,"excerpt":"The Reserve Bank of India has issued the Master Direction \u2013 Reserve Bank of India (Variation Margin) Directions, 2022. These Directions shall come into force with effect from December 01, 2022. 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