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With effect from April 1, the Reserve Bank of India (RBI) has decided to introduce the Legal Entity Identifier (LEI) system for all payment transactions of what value? 

  • a)
    Rs 30 crore 

  • b)
    Rs 80 crore 

  • c)
    Rs 50 crore 

  • d)
    Rs 40 crore

Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With effect from April 1, the Reserve Bank of India (RBI) has decided ...
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 undertaken by entities (non-individuals) using the Reserve Bank-run Centralised Payment Systems with effect from April 1.
LEI is a 20-digit number used to uniquely identify parties to financial transactions worldwide.
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Most Upvoted Answer
With effect from April 1, the Reserve Bank of India (RBI) has decided ...
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 undertaken by entities (non-individuals) using the Reserve Bank-run Centralised Payment Systems with effect from April 1.
LEI is a 20-digit number used to uniquely identify parties to financial transactions worldwide.
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