In Jan 2021 The Reserve Bank of India RBI has decided to introduce the Legal Entity Identifier LEI s...........

Current GK (IBPS-CL) Indian Economy

In Jan 2021, The Reserve Bank of India (RBI) has decided to introduce the Legal Entity Identifier (LEI) system for all payment transactions of value ?50 crore and above. LEI consists of how many didgits?

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IBPS Clerk Mains (28 Feb, 2021 Shift 1)

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Explanation:

- In January 2021, the Reserve Bank of India (RBI) introduced the Legal Entity Identifier (LEI) system for payment transactions of ?50 crore and above.

- The LEI is a 20-digit alphanumeric code designed to uniquely identify legally distinct entities.

- Option:1, 10 - An incorrect number of digits.

- Option:2, 12 - An incorrect number of digits.

- Option:3, 15 - An incorrect number of digits.

- Option:4, 16 - An incorrect number of digits.

- Option:5, 20 - This is the correct option as the LEI consists of 20 digits.