Home › Circulars › RBI/2011-12/351

RRBs: Updated FATF AML/CFT Jurisdictional Risks

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2011-12/351 · issued 16 Jan 2012 · ~1 min read
Quick answerRBI directs RRBs to consider FATF's October 28, 2011 updated statement on AML/CFT deficiencies in certain jurisdictions. This does not block legitimate trade, but banks must factor these risks into their compliance frameworks.

What changed

FATF updated its public statement on October 28, 2011, regarding jurisdictions with strategic AML/CFT deficiencies. RBI now advises all RRBs to take note of this updated information, building on its earlier July 29, 2011 circular on the same subject.

What it means for you

RRBs must integrate FATF's latest jurisdictional risk assessments into their AML/CFT policies. While legitimate business with those countries remains permitted, banks face heightened scrutiny and must ensure enhanced due diligence for transactions involving these jurisdictions.

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

Who it affects

All Regional Rural Banks (RRBs), Principal Officers of RRBs, AML/CFT compliance teams at RRBs

❓ Common questions

Regulatory timeline

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. The circular explicitly states it does not preclude Indian banks or financial institutions from legitimate trade and business transactions with those countries.

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.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1384: RPCD.CO.RRB.AML.No.7081/03.05.28(A)/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/2011-12/351 RPCD.CO.RRB.AML.No.7081/03.05.28(A)/2011-12 January 16, 2012 The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards Please refer to our circular RPCD.CO.RRB.AML.No.1203 /03.05.28 (A)/2011-12 dated July 29, 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 RRBs are accordingly advised to consider the information contained in the enclosed statement. 4.  This, however, does not preclude Indian banks or financial institutions 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 Regional Office concerned. Yours faithfully (C.D.Srinivasan) Chief General Manager Encls: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/351 · issued 16 Jan 2012. The plain-English explanation above is BankPulse’s own independent summary.
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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6940&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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