No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/447 · issued 24 Mar 2011 · ~1 min read
Quick answerRBI directs banks to consider FATF's February 2011 statement on jurisdictions with strategic AML/CFT deficiencies, urging action plan implementation within set timeframes.
What changed
FATF issued a new statement on February 25, 2011, updating its list of jurisdictions with strategic AML/CFT deficiencies. This supersedes the earlier January 2011 statement. Banks must now consider this latest information.
What it means for you
Banks must update their AML/CFT risk assessments to reflect the revised FATF list. Enhanced due diligence may be required for transactions involving these jurisdictions. Non-compliance could expose banks to regulatory scrutiny.
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
Review the enclosed FATF statement and update your AML/CFT risk frameworks accordingly.
Advise your Principal Officer to acknowledge receipt of this circular.
Ensure all relevant staff are briefed on the updated list of deficient jurisdictions.
Monitor transactions with listed jurisdictions for potential money laundering or terrorist financing risks.
Who it affects
Scheduled Commercial Banks (excluding RRBs), Local Area Banks, All India Financial Institutions
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 02:11 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 is the purpose of this circular?
It directs banks to consider FATF's February 2011 statement identifying jurisdictions with strategic AML/CFT deficiencies, to strengthen compliance.
Do we need to take any action beyond acknowledging receipt?
Yes, you must integrate the FATF statement into your AML/CFT risk assessment and due diligence processes for relevant jurisdictions.
📜 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Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1546: DBOD.AML.No.15008/14.01.001/2010-11 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated March 24, 2011”
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/447
DBOD. AML.No.15008 /14.01.001/2010-11
March 24, 2011
The Chairmen/CEOs of all Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks / All India Financial Institutions
Dear Sir,
Anti- Money Laundering (AML) / Combating of Financing of Terrorism (CFT)- Standards
Please refer to our letter DBOD. AML.No.10858 /14.01.038/2010-11 dated January 11, 2011 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies.
2.FATF, has further issued a Statement on February 25, 2011 ( copy enclosed ) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within the timeframe. The FATF, in the Statement has called upon its members to consider the information given in the Statement.
3.All banks and All India Financial Institutions are accordingly advised to consider the information contained in the enclosed Statement.
4.Please advise Principal Officer of your bank to acknowledge receipt of this circular letter.
Yours faithfully,
(Vinay Baijal)
Chief General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/447 · issued 24 Mar 2011. The plain-English explanation above is BankPulse’s own independent summary.
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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=6307&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.
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