LEI Registration in Nungambakkam - Filingpoint

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A 20-character code, made up of letters and numbers, which uniquely identifies entities like limited companies, funds, trusts and organisations. These codes can be used to find information about a company quickly and easily, on a global database. They also allow regulators to compare data about the same entity across markets.

The LEI system  was set up to standardise and simplify the way in which market participants identify each other globally. Its adoption by the industry means that all market participants can be found on a single, standardized data pool – enabling them to cut costs, streamline and accelerate operations. It also helps enhance risk management systems, particularly post-financial crisis.

In 2017, the Reserve Bank of India (RBI) prescribed that corporate borrowers with aggregate fund-based and non-fund-based exposure of Rs 50 crore or more to banks should compulsorily obtain LEIs and record them in their Central Repository of Information on Large Credits (CRILC). The RBI has since added to the list of participants who must get an LEI:

To receive an LEI, an entity must approach one of the Local Operating Units (LOUs) that have been accredited by GLEIF to issue the codes. The LOUs verify the reference data that goes with each LEI before publishing it, which explains why there is often a delay between requesting an LEI and it being published. Each LOU charges a fee for issuing an LEI and a separate annual maintenance fee.

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