Companies in India with an exposure to lenders over a certain amount will be required to obtain an LEI by April 30, 2023. 

RBI have stated that and organisations who fail to register an LEI code for their lending purposes they will not be penalised but will not be granted renewal/enhancement of any existing exposure. 

This applies only to private organisations, and not Government divisions who are exempt. 

The Reserve Bank of India (RBI) has prescribed a timeline for non-individual borrowers enjoying aggregate exposure of ₹5 crore and above from banks, financial institutions or any other lender to obtain Local Electoral Indexes Codes. The borrower must ensure they have obtained this information before 31st March 2022 in order not be sanctioned any new loans nor renewals/enhancements if already having an existing one
Borrowers who fail will face consequences such as being denied credit

LEI requirements vary depending on the country, legal jurisdiction or industry. It is the prerogative of the authorities acting in individual jurisdictions to mandate the use of LEIs.

The Reserve Bank of India (RBI) has prescribed a timeline for non-individual borrowers enjoying aggregate exposure ₹5 crore and above from banks or financial institutions to obtain LEI Codes. If they fail, their existing loans will not be renewed nor shall new onesysbe granted with increased terms

To apply for an LEI in India or for an Indian Company please select the button below for LEI Registration in India.