The Reserve Bank of India (RBI) has decided to introduce the ‘Legal Entity Identifier’ system for all payment transactions of value Rs. 50 crore and above undertaken by entities (non-individuals) using Reserve Bank-run Centralised Payment Systems viz. Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).The Reserve Bank of India (RBI) has decided to introduce the ‘Legal Entity Identifier’ system for all payment transactions of value Rs. 50 crore and above undertaken by entities (non-individuals) using Reserve Bank-run Centralised Payment Systems viz. Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).taxmann.com NewsRead More
