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BRIEF-India cenbank introduces legal entity identifier for large corporate borrowers‍​
November 2, 2017 / 11:35 AM / 17 days ago

BRIEF-India cenbank introduces legal entity identifier for large corporate borrowers‍​

Nov 2 (Reuters) - Reserve Bank of India:

* Introduction of legal entity identifier for large corporate borrowers‍​

* Decided that banks shall advise their existing large corporate borrowers having total exposures of INR 500 mln‍​

* Borrowers who do not obtain LEI as per schedule are not to be granted renewal / enhancement of credit facilities‍​

* Separate roadmap for borrowers having exposure between 50 million rupees and upto 500 million rupees would be issued in due course

* Banks should encourage large borrowers to obtain LEI for their parent entity as well as all subsidiaries and associates‍​

* After obtaining LEI code, banks shall also ensure that borrowers renew codes as per GLEIF guidelines Source text - bit.ly/2iowN0Z

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