No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2011-12/444 · issued 14 Mar 2012 · ~1 min read
Quick answerRBI directs banks to consider FATF's updated February 2012 statement on AML/CFT deficiencies in certain jurisdictions, without blocking legitimate trade.
What changed
FATF updated its statement on February 16, 2012, regarding risks from AML/CFT deficiencies in certain jurisdictions. RBI now advises all banks and financial institutions to factor this updated information into their risk assessments.
What it means for you
Banks must incorporate FATF's latest findings into their AML/CFT due diligence processes. However, this does not prohibit legitimate business with those jurisdictions, so lenders should avoid blanket 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 assessments accordingly.
Ensure your Principal Officer acknowledges receipt of this circular.
Do not block legitimate trade transactions solely based on this advisory.
Who it affects
All scheduled commercial banks (excluding RRBs), Local Area Banks, All India Financial Institutions
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 21:23 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 legitimate trade and business transactions with these countries are not precluded.
What should banks do with the FATF statement?
Banks must consider the information in the statement for their AML/CFT processes and ensure their Principal Officer acknowledges receipt.
📜 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Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)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 #1366: DBOD.AML.No.13738/14.01.001/2011-12 — "Anti - Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated March 14, 2012”
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/444
DBOD. AML.No.13738 /14.01.001/2011-12
March 14, 2012
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.10461/14.01.001/ 2010-11 dated January 12, 2012 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions.
2. Financial Action Task Force (FATF) has updated its Statement on February 16, 2012 on the subject ( copy enclosed ).
3. All banks and financial institutions 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 your Principal Officer to acknowledge receipt of this circular letter.
Yours faithfully,
(Deepak Singhal)
Chief General Manager in Charge
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/444 · issued 14 Mar 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=7061&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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