RBI Updates AML/CFT Guidance for Co-op Banks on FATF Statement
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2011-12/350 · issued 16 Jan 2012 · ~1 min read
Quick answerRBI directs all State and Central Co-operative Banks to consider the updated FATF statement on AML/CFT deficiencies in certain jurisdictions, issued October 28, 2011. This does not block legitimate trade with those countries.
What changed
RBI issued a circular on January 16, 2012, forwarding FATF's updated statement from October 28, 2011, on AML/CFT risks. It replaces earlier guidance from August 3, 2011, and requires co-operative banks to factor in the new information.
What it means for you
Co-operative banks must stay alert to jurisdictions flagged by FATF for weak AML/CFT controls, but can continue normal business with them. The circular reinforces existing obligations without introducing new penalties or restrictions.
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 assessment accordingly.
Ensure your Principal Officer acknowledges receipt of this circular to the concerned RBI Regional Office.
Advise all relevant staff on the updated FATF guidance and its implications for transaction monitoring.
Who it affects
State Co-operative Banks (StCBs), Central Co-operative Banks (DCCBs), Principal Officers of co-operative banks
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 22:11 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).
Does this circular ban transactions with the listed jurisdictions?
No, it explicitly states that Indian banks can continue legitimate trade and business with those countries and jurisdictions.
What should our Principal Officer do after receiving this circular?
The Principal Officer must acknowledge receipt of this circular letter to the concerned RBI Regional Office.
Is this a new requirement or an update?
It is an update to earlier letters from August 3, 2011, incorporating FATF's latest statement from October 28, 2011.
📜 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 #1383: RPCD.CO.RCB.AML.No.7036/07.02.12/2011-12 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated January 16, 2012”
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/350
RPCD.CO.RCB.AML.No.7036/07.02.12/2011-12
January 16, 2012
The Chairmen / CEOs of all State / Central Co-operative Banks
Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards
Please refer to our letters RPCD.CO.RCB.AML.No.1286/07.02.12/2011-12 and RPCD.CO.RCB.AML.No.1287/07.02.12/2011-12 dated August 3, 2011 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated its Statement on October 28, 2011 on the subject ( copy enclosed ).
3. All State and Central Co-operative Banks are accordingly advised to consider the information contained in the enclosed Statement.
4. This, however, does not preclude Indian Banks from legitimate trade and business transactions with these countries and jurisdictions.
5. Please advise Principal Officer of your bank to acknowledge receipt of this circular letter to our concerned Regional Office.
Yours faithfully,
(C.D.Srinivasan)
Chief General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/350 · issued 16 Jan 2012. 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=6939&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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