Why in news?

• Recently, RBI has extended the guidelines on LEI to large borrowers of NBFCs and Primary (Urban) Co-operative Banks (UCBs).
• LEI is a 20-character alpha-numeric code which is used to create a global reference data system that uniquely identifies every legal entity in any jurisdiction that is party to a financial transaction.
• LEI improves the quality and accuracy of financial data reporting systems for better risk management.