Current · Source: Reserve Bank of India · RBI/2012-13/231 · issued 11 Jul 2012 · ~1 min read
Quick answerRBI directs all NBFCs to update the UNSCR 1988 sanctions list for Taliban-linked individuals/entities. Before opening new accounts, verify names against this list and screen existing accounts for matches. Non-compliance risks regulatory action.
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
Update the UN sanctions list for Taliban-linked individuals/entities.
Verify names against this list before opening new accounts.
Screen existing accounts for matches with listed entities.
Non-compliance risks regulatory action.
How it plays out — a real example
An NBFC compliance officer in Indore, Mr. Kumar, checks the updated UN sanctions list before opening a new account for a customer named Abdul. He verifies Abdul's name against the list and finds no match. However, he does scan the existing accounts and finds a small loan account linked to a listed entity. Mr. Kumar immediately freezes the account and reports it to the compliance team for further action.
What changed
The UN Security Council's 1988 Committee issued notes dated June 27, July 2, July 19, August 13, and August 15, 2012, updating the sanctions list of Taliban-linked individuals and entities. RBI circular dated October 3, 2012, requires NBFCs to update their records accordingly.
What it means for you
NBFCs must update their internal databases with the revised UN sanctions list and ensure no new or existing accounts are linked to listed entities. This tightens anti-money laundering and counter-terrorism financing controls.
What you must do
Download the updated UNSCR 1988 sanctions list from the UN website and cross-reference with your customer database.
Before opening any new account, verify the proposed customer's name against the updated list.
Scan all existing accounts to ensure no account is held by or linked to any listed individuals or entities.
Who it affects
All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs), Compliance and AML teams at NBFCs, Customer onboarding and account management teams
❓ Common questions
What is the UNSCR 1988 sanctions list?
It is a UN Security Council list of individuals and entities linked to the Taliban, updated periodically. NBFCs must screen customers against this list to comply with Section 51-A of UAPA, 1967.
How often do I need to update the sanctions list?
RBI will notify NBFCs whenever the UN 1988 Committee issues updates. In this circular, updates from June to August 2012 were communicated. You should regularly check the UN website for changes.
What happens if I find a match in an existing account?
You must ensure no account is held by or linked to listed entities. The source does not specify freezing or reporting; refer to the full UAPA guidelines for further actions.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/231
DNBS(PD).CC. No 305/03.10.42/2012-13
October 3 , 2012
All Non Banking Financial Companies /
Residuary Non Banking Companies
Dear Sir,
Implementation of Section 51-A of UAPA, 1967-Updates of the UNSCR 1988 (2011) Sanctions List
Please refer to DNBS (PD).CC. No 295 /03.10.42 /2012-13 dated July 11, 2012 . The Chairman of UN Security Council's 1988 Committee has issued notes dated June 27, 2012 , July 2, 2012 , July 19, 2012 , August 13, 2012 and August 15, 2012 (copy enclosed) regarding changes made in the “1988 Sanctions List”, i.e. list of Individuals and entities linked to Taliban.
2. All NBFCs are required to update the list of individuals/entities as circulated by Reserve Bank and before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list. Further, NBFCs should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.
3. The complete details of the said list are available on the UN website:
http://www.un.org/sc/committees/1988/list.shtml
Yours faithfully,
(Chandana Dasgupta)
Deputy General Manager
Encl: as above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/231 · issued 11 Jul 2012. The plain-English explanation above is BankPulse’s own independent summary.
Example: if you are a Compliance officer at a bank this circular applies to (All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs), Compliance and AML teams at NBFCs, Customer onboarding and account management teams), your first concrete step on “NBFCs Must Update UN Taliban Sanctions List” is: “Download the updated UNSCR 1988 sanctions list from the UN website and cross-reference with your customer database.” (RBI issued this 11 Jul 2012).
Circular: RBI/2012-13/231 -- NBFCs Must Update UN Taliban Sanctions List
Issued: 11 Jul 2012
Action required: Download the updated UNSCR 1988 sanctions list from the UN website and cross-reference with your customer database.
Action required: Before opening any new account, verify the proposed customer's name against the updated list.
Action required: Scan all existing accounts to ensure no account is held by or linked to any listed individuals or entities.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
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.
💬 Banker Discussion
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=7602&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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