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UNSCR 1929 Compliance: Sanctions Screening Mandate

Current · Source: Reserve Bank of India · RBI/2011-12/358 · issued 20 Jan 2012 · ~1 min read
Quick answerRBI mandates banks to screen all accounts and transactions against the UNSCR 1929 sanctions list published in the Gazette of India dated November 4, 2011, and report matches to RBI and FIU-IND.
Sanctions-list safety note. This circular refers to a specific UN Security Council / UAPA designated-entities list update as it stood on the date above — sanctions lists change often, and a newer update almost certainly exists today. Never use this page, or any single dated circular, as your current screening list. Always screen against the live, current list at the official UAPA proscribed-organisations list and the UN Consolidated List, and confirm the obligations for your bank on the official rbi.org.in source below.
The rule, in the simplest words
How it plays out — a real example

A KYC & compliance officer in Indore is opening a new account for a customer. She pulls up the UNSCR 1929 list from the Gazette of India dated November 4, 2011, and carefully checks the customer's name against it. Finding no match, she proceeds with the account opening, knowing she has followed the RBI's rule to screen everyone.

What changed

RBI issued a circular on January 20, 2012, enclosing the Ministry of External Affairs order implementing UN Security Council Resolution 1929 (2010) on non-proliferation. Banks are now required to cross-check all new account openings and existing account transactions against the listed individuals/entities and report any matches.

What it means for you

Banks must integrate the UNSCR 1929 sanctions list into their KYC and transaction monitoring systems to identify and report matches. Non-compliance could lead to regulatory action, as this is a direct instruction from RBI and FIU-IND.

What you must do

Who it affects

All Scheduled Commercial Banks (excluding RRBs), Local Area Banks, Financial Institutions

❓ Common questions

What is the source of the sanctions list I need to screen against?

The list is from the Ministry of External Affairs order dated November 4, 2011, published in the Gazette of India, implementing UN Security Council Resolution 1929 (2010) on non-proliferation.

What should I do if I find a match with the listed individuals/entities?

You must report those accounts to both the Reserve Bank of India and the Financial Intelligence Unit-India as per the circular.

Does this apply to existing accounts as well?

Yes, the circular requires cross-checking both new account opening applications and transactions carried out in existing accounts.

📜 Read the original circular — full text as issued by RBI
RBI/2011-12/358 DBOD. AML. No. 10874/14.06.001/2011-12 January 20, 2012 The Chairman / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks / Financial Institutions Dear Sir, Implementation of UNSCR 1929(2010) on Non-proliferation Government of India Order of November 04, 2011 Please find enclosed a copy of Ministry of External Affairs Order dated November 4, 2011 published in the Gazette of India on implementation of United Nations Security Council Resolution 1929 (2010). 2. Utmost care should be taken by banks to ensure to cross check all account opening applications and transactions carried out in the existing accounts with the list of individuals / entities enlisted in the Gazette and report those accounts to Reserve Bank of India and Financial Intelligence Unit-India which bear resemblance with the individuals / entities listed therein. 3. Compliance Officer/Principal Officer should acknowledge receipt of this circular letter. Yours faithfully, (S. K. Jha) Deputy General Manager Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/358 · issued 20 Jan 2012. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
💻 IT / Systems
  • Cross-check all new account applications and existing account transactions against the individuals/entities listed in the Gazette of India dated November 4, 2011.
  • Update internal AML/sanctions screening systems to include the UNSCR 1929 list.
📜 Compliance
  • Report any accounts resembling listed individuals/entities to RBI and Financial Intelligence Unit-India immediately.
  • Ensure the Compliance Officer/Principal Officer acknowledges receipt of this circular.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (All Scheduled Commercial Banks (excluding RRBs), Local Area Banks, Financial Institutions), your first concrete step on “UNSCR 1929 Compliance: Sanctions Screening Mandate” is: “Cross-check all new account applications and existing account transactions against the individuals/entities listed in the Gazette of India dated November 4, 2011.” (RBI issued this 20 Jan 2012).

  1. Circular: RBI/2011-12/358 -- UNSCR 1929 Compliance: Sanctions Screening Mandate
  2. Issued: 20 Jan 2012
  3. Action required: Cross-check all new account applications and existing account transactions against the individuals/entities listed in the Gazette of India dated November 4, 2011.
  4. Action required: Report any accounts resembling listed individuals/entities to RBI and Financial Intelligence Unit-India immediately.
  5. Action required: Ensure the Compliance Officer/Principal Officer acknowledges receipt of this circular.
  6. Action required: Update internal AML/sanctions screening systems to include the UNSCR 1929 list.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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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=6949&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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