Legal Entity Identifier (LEI) Registration
A Legal Entity Identifier is a 20-character global code that banks now ask for before they sanction or renew a loan of ₹5 crore or more to a company, firm or other non-individual borrower. It is also needed for RTGS and NEFT payments of ₹50 crore and above. We apply for your LEI with Legal Entity Identifier India Ltd (LEIL) and keep it renewed every year.
What it is
An LEI is a unique reference number for a legal entity, built to the ISO 17442 standard. It has 20 letters and digits. Think of it as a PAN that works across countries. Any bank or regulator can look it up and see who you are, where you are registered and, where reported, who owns you.
In India, LEIs are issued by Legal Entity Identifier India Ltd (LEIL), a wholly owned subsidiary of the Clearing Corporation of India Ltd. LEIL is recognised by the Reserve Bank of India as an issuer under the Payment and Settlement Systems Act, 2007, and is accredited by the Global Legal Entity Identifier Foundation (GLEIF). RBI accepts an LEI from any GLEIF-accredited issuer. An LEI is valid for one year and must be renewed to stay active.
Who it applies to
Borrowers with ₹5 crore or more of bank exposure
Under RBI circular DOR.CRE.REC.28/21.04.048/2022-23 dated 21 April 2022, every non-individual borrower with aggregate fund-based and non-fund-based exposure of ₹5 crore or more from banks and financial institutions needs an LEI. The last phase of this rule took effect on 30 April 2025.
Senders and receivers of large payments
Since 1 April 2021, non-individual parties to a single RTGS or NEFT transaction of ₹50 crore or more must give their LEI. The bank adds it to the payment message.
Cross-border transactions of ₹50 crore or more
Since 1 October 2022, banks must collect the LEI of resident non-individuals for capital or current account transactions under FEMA of ₹50 crore and above per transaction.
Why it matters
Your loan keeps moving
The 2022 circular is blunt: a borrower above the threshold without an LEI cannot get any new exposure, nor a renewal or enhancement of an existing one. A cash credit limit that comes up for annual review simply waits, even when your project report for the bank loan is ready.
Large payments don’t bounce back
For RTGS and NEFT payments of ₹50 crore and above, banks need both sides’ LEI. Without it, the transfer can be held or rejected.
One code, every counterparty
One LEI serves all your banks and overseas counterparties. Register once, renew yearly.
Documents required
From a company or LLP
- Certificate of incorporation, with CIN or LLPIN
- PAN of the entity
- Memorandum and articles, or the LLP agreement
- Registered office address as per MCA records (if you have moved, finish the registered office change first)
From a firm, trust or society
- Registration certificate or partnership deed / trust deed
- PAN of the firm, trust or society
- Address proof of the principal office
Authorisation and ownership
- Board resolution or authority letter for the person applying
- ID proof and contact details of the authorised person
- Details of the direct and ultimate parent, if any (or the reason they are not reported)
How it works
Check whether you already have one
We search the GLEIF database first. Many group companies already hold a lapsed LEI, and renewing beats applying afresh.
Match your records to the registers
LEIL verifies the name and address against public registers such as the MCA master data. In practice, most delays come from a mismatch, so we match the application to those records word for word.
File the application and pay the fee
We file on the LEIL portal with the documents, authorisation and parent details. You pay LEIL’s fee online.
Share the code with your banks
Once LEIL issues the code, we send it to you to share with each lender.
Renew before the year ends
We track the next renewal date alongside your annual ROC compliance and renew ahead of time, updating any change in name, address or ownership on the way.
Timelines
Getting the code
A few working days when your records match the registers. A name or address mismatch adds time.
Keeping it valid
One year from the date of issue or last renewal. After that, the LEI shows as lapsed in the global database.
Renewing it
Every year, before the expiry date, so the code is never lapsed when your bank checks.
How the borrower rule was phased in
RBI phased in the ₹5 crore rule. Every date below has passed, so a non-individual borrower at ₹5 crore or more must already hold a valid LEI.
Here is the catch: limits grow quietly. A Faridabad auto-parts maker whose working capital limit crept past ₹5 crore at the last renewal is now inside the rule, whether or not the bank flagged it.
| Aggregate exposure from banks and FIs | LEI needed by |
|---|---|
| Above ₹25 crore | 30 April 2023 |
| Above ₹10 crore up to ₹25 crore | 30 April 2024 |
| ₹5 crore up to ₹10 crore | 30 April 2025 |
Departments and agencies of the Central and State Governments are outside the rule. Public sector undertakings registered under the Companies Act, or set up as corporations under a statute, are not excluded.
What happens if your LEI lapses
Bank credit stops at renewal
A lapsed LEI counts as no LEI. Above ₹5 crore, the bank cannot sanction, renew or enhance limits until it is active again.
Large payments get stuck
RTGS, NEFT or FEMA transactions of ₹50 crore or more need an active LEI. A gap can delay a deal closing or a supplier payment.
Your record looks stale
Anyone who looks up the code sees it flagged as lapsed. It can be renewed later, but it is easier not to let it lapse.
Frequently asked questions
Who needs an LEI under RBI rules?
Any non-individual borrower with aggregate exposure of ₹5 crore or more from banks and financial institutions needs an LEI. This covers companies, LLPs, partnership firms, trusts and similar entities. It is also needed by non-individuals in RTGS or NEFT payments of ₹50 crore or more, and in FEMA capital or current account transactions of ₹50 crore or more. If none apply yet, an LEI is optional, and getting one early does no harm.
Do individuals or proprietors need an LEI?
No. The RBI rules apply to non-individual entities, so an individual borrower does not need an LEI under the ₹5 crore borrower rule. A proprietorship is the proprietor in law, not a separate entity. If your bank still asks, speak to us; usually the request is meant for a company, LLP or firm in the same group, and we can sort out which one.
How is the ₹5 crore exposure counted?
It is the aggregate of fund-based and non-fund-based exposure from all banks and financial institutions together. So a ₹3 crore cash credit limit plus a ₹2.5 crore bank guarantee from another bank adds up to ₹5.5 crore, and an LEI is needed. The test is your total exposure, not each bank separately. If you are close to the line, get the LEI anyway; it keeps a future limit increase from stalling.
How long is an LEI valid?
An LEI is valid for one year from the date it is issued or last renewed. After that it shows as lapsed in the global database, and banks treat a lapsed code as no code. The code never changes; renewal keeps the same 20 characters active for another year. We note your renewal date and renew ahead of time, so you don’t have to remember it.
What does LEIL charge?
LEIL’s published fee is ₹7,080 for a new one-year registration and ₹4,130 for an annual renewal, both including 18% GST, as per its current schedule. LEIL revises fees at times, so we confirm the amount when we file. Our professional fee is separate and quoted upfront before we start. The fee is paid online, directly to LEIL.
Can a lapsed LEI be revived?
Yes. A lapsed LEI can be renewed, and it keeps the same code once LEIL processes the renewal. Do not apply for a new one; a second code for the same entity is a duplicate that has to be cleaned up. We check the global database, renew the existing code, and update any change in address or ownership in the same filing.
What is parent or ownership information in an LEI?
Along with your own details, the LEI record asks for your direct parent and ultimate parent, where they exist. A wholly owned subsidiary of an Indian company would name that company as its parent. If the parent has no LEI or there is a valid reason not to report it, you give that reason instead. We take care here, because this is the part most often sent back.
Does every group company need its own LEI?
Yes, each legal entity gets its own LEI, and the rule applies entity by entity. A holding company and its subsidiary each need a code if each crosses ₹5 crore of exposure or makes a ₹50 crore payment. A parent’s LEI cannot be used for a subsidiary. We often register a whole group together so the parent links match across records.
What if our name or address changes?
Update the LEI record after the change is registered with the MCA or the relevant registrar. LEIL checks your details against these public registers, so the change must show there first. The LEI number stays the same; only the reference data changes. We combine the update with the next renewal, or file it at once if a bank is waiting.
What it costs
Our fee plus the government fee that applies to your case, quoted before you commit. Tell us the situation and we will price it exactly.
For an LEI the outside fee is LEIL’s own charge: ₹7,080 for a new one-year registration and ₹4,130 for each annual renewal, both inclusive of GST, as per LEIL’s current published schedule.
Ready to begin?
Send us your entity’s PAN and registration details, and we will get your LEI issued or renewed before your bank’s next review.