If you’re a business, a large financial institution, or another body that is laid out as requiring an LEI, and you’re based in India, it’s important that you know how to get one. For many, they are mandatory, but obtaining one hasn’t always been easy. But, that’s where LEI Register India comes in. This official authority is able to help you get what you need, supposedly without all of the hassle, but is that really true?
We’re going to be taking a look right now. Down below, we’re going to be exploring LEI Register India, who they are, what they do, and everything else that you could possibly want to know about what it’s like trying to use this service. Ready to dive in? Let’s get to it.
What Is The Backstory For LEI Register India?
LEI Register India was founded from a personal struggle from the CEO himself. Struggling to obtain an LEI, he saw how complex the process was, and realized that if he was struggling, there were probably countless others who were also struggling. From there, he found a way to streamline the process, and ensure that legal entities didn’t have to suffer to get this mandatory form of identification.
Over the years, LEI Register India has worked tirelessly to provide high-quality support to each and every client that uses them. Thanks to their hard work and dedication, they are now in the position of top LEI registration agent in India, highlighting their incredible achievements, and essential service across India.
What Do They Do?
LEI Register India is a company that helps their clients to get the LEI that they need. It’s mandatory for certain financial institutions and business owners to have an LEI so that financial transactions can be verified, and processed.
The goal of this company has always been to make it as easy as possible to get your LEI, ensuring that you don’t have to jump through countless hoops for no reason, and getting you your LEI as fast as possible.
They are able to provide you with customer service support as and when needed, assisting you through the application. But, the application process on their website is already super simple to go through, you just need to make sure that you have all of the correct information to hand, and all of the necessary documents to obtain an LEI.
It’s also important to be aware that they have an LEI checker so that you can check your code once it has been issued, ensuring that it works, and are able to access it if needed.
Potential Downsides
Not The Primary Issuer
It can be a little confusing when you first look on their website, as it may appear as though they are a direct issuer of LEIs, but this is not the case. They are a registration agent that assists you in getting your LEI. They take all of your information, and then work with accredited issuers to get you your LEI code. While this is not an issue, it isn’t abundantly clear that this is the case, and some people get confused, believing that this company issues LEIs.
Potential For Higher Fees
While we’re not saying at all that the price for this service is too high, we think it’s pretty reasonable, but others may disagree as there are cheaper options out there. LEI pricing isn’t strictly fixed, meaning that different agents are able to decide their own fees, which may mean that there are competitors who are cheaper to use for the same, or a similar service. However, it’s true to say that this is the same in most industries, and you pay for the quality of the service that you receive.
Lack Of External Reviews
This registration agent is not massively reviewed from what we can see. While there are a fair chunk of reviews for registration agents as a whole, and for other providers, LEI Register India has few specific reviews, and as such there could be a trust gap here. The lack of broader feedback from clients could be concerning to some, putting them off choosing this company.
Pros of LEI Register India
Digital LEI Certificate
Registrants receive a digital LEI certificate, which is often requested by banks during KYC and compliance checks. Having this document readily available can help streamline interactions with financial institutions.
Compliance Ready
Specifically designed to help Indian entities meet the RBI mandate for large corporate borrowers (₹5 Cr+ exposure) and SEBI requirements for capital market participants. It’s a lot of hassle to go through all of the compliance requirements, but the LEI Register India makes it easier for you.
Support for Local Payment Methods
The platform supports commonly used Indian payment methods such as UPI, net banking, and bank transfers. This removes the need for international credit cards and simplifies the payment process for Indian entities.
Simplified Ongoing Maintenance
LEIs must be renewed annually to remain active. LEI Register India conducts this process and helps ensure continued compliance with global LEI reporting requirements. This reduces the risk of an LEI lapsing, which could otherwise disrupt high-value banking transactions and cause unnecessary problems for those involved.
Fantastic Customer Service
We also want to point out here that LEI Register India is extremely dedicated to their clients, offering them the support that they need, when they need it. The company itself was founded due to difficulty obtaining an LEI, and the support team are there to ensure that this doesn’t happen to anyone else.
Overall Assessment
Understanding whether and why your organization needs an LEI is essential for compliance with financial regulations. While LEI registration and renewal add to the compliance burden, they are mandatory for many entities and transactions.
LEI Register India provides a structured and localized way for Indian entities to meet these requirements. Although the system primarily benefits regulators and the broader financial ecosystem, the importance of maintaining an active LEI outweighs the drawbacks—particularly for organizations engaged in regulated or high-value financial transactions.
(DISCLAIMER: The information in this article does not necessarily reflect the views of The Global Hues. We make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this article.)
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