Legal Entity Identifier Code for participation in non-derivative markets
Please note that Reserve Bank of India had mandated the requirement of Legal Identity Identifier(LEI) vide notification no. RBI/2018-19/83 FMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018 for any non-derivative forex transactions(i.e. transactions that settle on or before the spot date) involving an amount equivalent to or exceeding USD one million or equivalent thereof in other currencies. This has been implemented in phased manner as per below schedule:
Schedule for Implementation of LEI in the Money market, G-sec market and Forex market
|Phase||Net Worth of Entities||Proposed deadline|
|Phase I||above Rs.10000 million||April 30, 2019|
|Phase II||between Rs.2000 million and Rs 10000 million||August 31, 2019|
|Phase III||up to Rs.2000 million||March 31, 2020|
We would like to reiterate and highlight that Deadline for Phase III is on 31 March, 2020 and approaching fast.
The LEI system has been implemented in a phased manner for participants (other than individuals) in the over-the-counter markets for rupee interest rate derivatives, foreign currency derivatives and credit derivatives in India in terms of RBI circular FMRD.FMID No. 14/11.01.007/2016-17 dated June 1, 2017 and for large corporate borrowers of banks in terms of RBI Circular DBR.No.BP.BC.92/21.04.048/2017-18 dated November 2, 2017.
Your organization can obtain LEI from any of the Local Operating Units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF) (https://www.gleif.org/en). In India LEI code may be obtained from Legal Entity Identifier India Ltd. (LEIL) (https://www.ccilindia-lei.co.in). The rules, procedures and documentation requirements may be ascertained from LEIL (https://www.ccilindia-lei.co.in/USR_FAQ_DOCS.aspx).
Lapsed LEI codes shall be deemed invalid for transactions in markets regulated by RBI & any non-derivative forex transactions involving an amount equivalent to or exceeding USD one million or equivalent thereof in other currencies, shall not be entertained.
Kindly refer to below link for the detailed RBI regulation on applicability of Legal Entity Identifier (LEI) & share your LEI with your Relationship Manager for our records, at the earliest:
Beware of Fictitious Offer of Prize / Lottery / Money Tranfers from Abroad – Message from the Reserve Bank of India
RBI Circular Regarding Remittance (915 ko)
Remittance Towards Lottery (92 ko)
RBI Press Release
BNP Paribas Policy document on
(a) immediate credit of local / outstation cheques
(b) time frame for collection of local / oustation cheques
(c) interest payment for delayed collection
In terms of section 16 (1) of DICGC Act 1961, the limit of the total amount payable by the Corporation to any one of the depositor in respect of his/her deposits with an insured bank in the same right and capacity shall be INR 5 lakh from the February 04, 2020.
BNP Paribas India is also a member of the Banking Codes and Standards Board of India, Mumbai
The copies of the ‘Code of Bank’s Commitmens to Individua Customers’ are available at the counters of all our branches. Information required in terms of RBI Circular No.DBOD.No.Leg BC. 60 / 09.07.005 / 2006-07 February 22, 2007 regarding Analysis and Disclosure of complaints – Disclosure of complaints / unimplemented awards of Banking Ombudsmen along with Financial Results.
Base Rate: Please note that Base Rate for All categories of Loans and Advances w.e.f September 10, 2015 will be 8.90 % p.a. payable monthly.
Marginal Cost of Funds based Lending Rate (MCLR) Rates effective from 1st April 2020 are as follows:
For April 2020
|Overnight MCLR||1 day loan ( Overdrafts)||6.50%|
|One month MCLR||>1 day and <= 1 month||6.55%|
|Three months MCLR||>1 month and <= 3 months||6.60%|
|Six months MCLR||> 3 months and <=6 months||6.75%|
|One year MCLR||> 6 months and <= 1 year||6.95%|
|Two years MCLR||> 1 year and <=2 years||6.95%|
|Three years MCLR||>2 years and <=3 years||6.95%|
Benchmark Prime Lending Rate (BPLR): The Benchmark Prime Lending Rate of the Bank stands revised to 14.75% p.a. payable monthly w.e.f. 8th August 2011.
Awareness Kit Fraud and Cyber Risks
In these unprecedented circumstances, which first responders, patients, families and businesses face with courage, we strongly recommend that you do not lower your guard against fraud and cyber threats. Fraudsters and hackers are increasingly active; seeing opportunities to attack fragile businesses and organisations, exploiting the on-going crisis to carry out fraudulent attacks.
- Beware of new ‘fake CEO’ scam schemes: Scammers will exploit the crisis, using it as a justification to request the urgent transfer of funds to other banks.
- Make your employees particularly aware of the risk of ransomware: Hackers have already exploited the theme of the coronavirus to spread malware, by email, attachments and via malicious websites – treat every email with added suspicion before taking any action.
- Stay protected against ‘fake vendor’ scams: Ensure you verify any changes via a known contact using your existing contact details, via skype, Facetime or telephone; we recommend dual verification prior to making any changes to vendors bank account details internally.
- Be careful when purchasing masks, hydroalcoholic gel or other coronavirus related products: we are informed of numerous scams (products are not delivered or are bogus).
- Check the identity of anyone claiming to be part of BNP Paribas teams: We see ‘fake technician’ scam attempts.
- If possible, use electronic transfers and avoid transfer orders and validation by fax and email; it is easy for fraudsters to get signature samples.
- In all cases, pay particular attention to ‘email spoofing’: Fraudsters can use an email address that very closely resembles that of your president, supplier, client, bank, auditor, etc. In some case fraudsters have infiltrated the address/server so the email appears completely genuine.
Cybercriminals will often use the branding of “trusted” organizations in these phishing attacks, especially the World Health Organization (WHO) and U.S. Centres for Disease Control and Prevention (CDC), in order to build credibility and get users to open attachments or click on the link.
Raise your employees’ awareness of fraud and cyber risks, be particularly vigilant with new joiners and temporary/contract employees. To assist you, please find attached the updated version of our fraud and cyber risk awareness kit. This kit of thirteen pages is aimed at operational staff, but is useful for everyone. It contains examples of frauds, warning signs that should alert them, videos and articles to learn more, as well as concrete tips to protect against fraud and cyber-attacks.
Please immediately contact your Transaction Banking Sales Manager to report any such instance that you may come across. Alternatively, please write us at email@example.com/ firstname.lastname@example.org or call us at our toll free line 1800 267 7766 on working days, between 9.30 am and 6.30 pm.