No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/369 · issued 17 Jan 2011 · ~1 min read
Quick answerRBI directs RRBs to account for AML/CFT risks from Iran (countermeasures required) and DPRK (risk consideration needed) per FATF's October 2010 statement, updating earlier August 2010 guidance.
What changed
FATF's October 22, 2010 statement reclassified strategic AML/CFT deficient jurisdictions into two groups: Iran, requiring countermeasures due to substantial ML/FT risks, and DPRK, with deficiencies but no committed action plan. RBI now advises RRBs to factor these risks into business relationships and transactions with entities from these countries.
What it means for you
RRBs must enhance due diligence for any dealings involving Iran or DPRK, potentially applying stricter monitoring or restrictions. This aligns with global FATF standards to protect the financial system from money laundering and terrorist financing risks.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Update internal AML/CFT policies to reflect FATF's two-tier risk categorization for Iran and DPRK.
Screen all new and existing business relationships and transactions for links to these jurisdictions.
Advise your Principal Officer to acknowledge receipt of this circular to the concerned RBI Regional Office.
Consider applying enhanced due diligence or countermeasures for Iran-related transactions.
Who it affects
All Regional Rural Banks (RRBs), Principal Officers of RRBs, Compliance and AML/CFT teams at RRBs
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 02:56 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
What are the two groups of jurisdictions mentioned in the FATF statement?
The first group includes Iran, where FATF calls for countermeasures due to ongoing ML/FT risks. The second group includes DPRK, which has strategic deficiencies but no committed action plan, requiring risk consideration.
Do RRBs need to stop all transactions with Iran or DPRK?
No, but they must assess and mitigate risks from these jurisdictions. For Iran, countermeasures are recommended; for DPRK, risk consideration is required. RBI advises taking these risks into account when entering business relationships.
What should the Principal Officer do after receiving this circular?
The Principal Officer must acknowledge receipt of the circular letter to the concerned RBI Regional Office, as per paragraph 4 of the circular.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/369
RPCD.CO.RRB.AML.No. 7857/03.05.28 (A)/2010-11
January 17, 2011
The Chairmen
All Regional Rural Banks (RRBs)
Dear Sir,
Anti-Money Laundering (AML) / Combating of Financial Terrorism (CFT) - Standards
Please refer to our circular RPCD.CO.RRB.AML.No.2341 /03.05.28 (A)/2010-11 dated August 24, 2010 on risks arising from the deficiencies in AML/CFT regime of Iran, Democratic People's Republic of Korea (DPRK), Sao Tome and Principe.
2. Financial Action Task Force (FATF) has issued a further Statement on October 22, 2010 on the subject ( copy enclosed ). It may be observed that the statement divides the strategic AML/CFT deficient jurisdictions into two groups as under:
Jurisdictions subject to FATF call on its members and other jurisdictions to apply countermeasures to protect the international financial system from the ongoing and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdiction : Iran
Jurisdictions with strategic AML/CFT deficiencies that have not committed to an action plan developed with the FATF to address key deficiencies as of October 2010. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction: Democratic People's Republic of Korea (DPRK).
3. All Regional Rural Banks are accordingly advised to take into account risks arising from the deficiencies in AML/CFT regime of these countries, while entering into business relationships and transactions with persons (including legal persons and other financial institutions) from or in these countries/ jurisdictions.
4. Please advise Principal Officer of your bank to acknowledge receipt of this circular letter to our Regional Office concerned.
Yours faithfully,
(B.P.Vijayendra)
Chief General Manager
Encl : As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/369 · issued 17 Jan 2011. The plain-English explanation above is BankPulse’s own independent summary.
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6216&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
Help us keep this accurate
Found an inaccuracy or have an improvement? Tell us. Every report is reviewed by our team before any change is made — nothing goes live unverified.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
BANKPULSE · FREE DAILY BRIEF
Get RBI updates for your role
Every important RBI update, decoded in plain English — for your career, exams & financial awareness.
We collect only your email, name and role, used solely to send your brief — never sold or shared. Withdraw anytime via the unsubscribe link in any email. Independent platform, not affiliated with the RBI. Information, not legal advice.
REPORT AN ERROR · BETA
Spotted an error? Earn 500 BankPulse Credits
Help us stay accurate. If your correction is verified true and approved by our founder, you earn 500 BankPulse Credits — redeemable when the platform monetises.
Reviewed by a human before any credit is awarded. We never change the site from crowd input without verification.
WANT A NEW FEATURE · BETA
What would make BankPulse more useful for you?
Tell us what to build next — a tool, a data view, a role page, anything. We read every suggestion.
Thank you — your ideas directly shape what we build.