Quick answerBanks must update the UNSCR 1988 Sanctions List and verify customer names against it before opening new accounts or scanning existing accounts.
What changed
The UNSCR 1988 Sanctions List has been updated with new names of individuals and entities linked to the Taliban. Banks must update their records and verify customer names against the list.
What it means for you
Banks must ensure that no account is held by or linked to any of the entities or individuals included in the list. This is to prevent financial support to terrorist organizations.
The rule, in the simplest words
Banks must update their list of people and groups linked to the Taliban (called the UNSCR 1988 Sanctions List) whenever the government sends new names.
Before opening a new account, banks must check the customer's name against this list to make sure they are not on it.
Banks must also check all existing accounts to see if any account belongs to or is connected to anyone on the list.
If a match is found, banks must freeze that person's or group's money and assets (like bank accounts) as instructed by the government.
How it plays out — a real example
A gold-loan officer in Indore receives an updated UNSCR 1988 Sanctions List from the RBI. Before approving a new gold loan for a customer named Ahmed, she checks his name against the list and finds no match, so she proceeds. Later, she scans her existing loan accounts and discovers one linked to a name on the list; she immediately freezes that account and reports it to her compliance officer.
What you must do
Update the UNSCR 1988 Sanctions List
Verify customer names against the updated list before opening new accounts
Scan existing accounts to ensure no account is held by or linked to any of the entities or individuals included in the list
Who it affects
Regional Rural Banks, State and Central Co-operative Banks, All India Financial Institutions
Where can I find the updated list?
The updated list is available on the UN website: http://www.un.org/sc/committees/1988/list.shtml
What should I do if a customer's name appears on the list?
You must freeze the customer's account and report it to the concerned authorities.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/266
RPCD.CO.RRB.RCB.AML.No. 4500 /07.02.12/2012-13
October 29, 2012
The Chairmen / CEOs of all Regional Rural Banks /
State and Central Co-operative Banks
Dear Sir,
Implementation of Section 51-A of UAPA, 1967 -
Updates of the UNSCR 1988(2011) Sanctions List
Please refer to our circular RPCD.CO.RRB.RCB.AML.No.2293 / 03.05.28(A)/2012-13 dated August 31, 2012 on the captioned subject. We have since received from Government of India, Ministry of External Affairs, UNP Division, copy of note dated October 19, 2012 forwarded by the Chairman of UN Security Council's 1988 Committee (copy enclosed) regarding changes made in the “1988 Sanctions List”, i.e. list of Individuals and entities linked to Taliban.
2. Banks/All India Financial Institutions 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, banks 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. Banks are advised to strictly follow the procedure laid down in the UAPA Order dated August 27, 2009 enclosed to our circular RPCD.CO.RRB.No.39/03.05.33 (E)/2009-10 dated November 05, 2009 and RPCD.CO.RF.AML. BC. No. 34/07.40.00/ 2009-10 dated October 29, 2009 and ensure meticulous compliance to the Order issued by the Government.
4. As far as freezing of funds, financial assets or economic resources or related services held in the form of bank accounts of the designated individuals/entities are concerned, action should be taken as detailed in paragraph 6 of the circulars mentioned in paragraph 3 above.
5. The complete details of the said list are available on the UN website:
http://www.un.org/sc/committees/1988/list.shtml
6. Compliance Officer/Principal Officer should acknowledge receipt of this circular letter to our concerned Regional Office.
Yours faithfully,
(I. S. Negi)
General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/266 · issued 29 Oct 2012. The plain-English explanation above is BankPulse’s own independent summary.
Test yourself
Quick self-check built only from the facts already on this page — tap a question to reveal the answer.
Q1. In one line, what does this circular do?
Banks must update the UNSCR 1988 Sanctions List and verify customer names against it before opening new accounts or scanning existing accounts.
Q2. Who does this circular apply to?
Regional Rural Banks, State and Central Co-operative Banks, All India Financial Institutions
Q3. What is the first thing you should do about it?
Update the UNSCR 1988 Sanctions List
Related circulars · Financial Inclusion & Priority Sector
Verify customer names against the updated list before opening new accounts
Scan existing accounts to ensure no account is held by or linked to any of the entities or individuals included in the list
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (Regional Rural Banks, State and Central Co-operative Banks, All India Financial Institutions), your first concrete step on “Update UNSCR 1988 Sanctions List” is: “Update the UNSCR 1988 Sanctions List” (RBI issued this 29 Oct 2012).
Circular: RBI/2012-13/266 -- Update UNSCR 1988 Sanctions List
Issued: 29 Oct 2012
Action required: Update the UNSCR 1988 Sanctions List
Action required: Verify customer names against the updated list before opening new accounts
Action required: Scan existing accounts to ensure no account is held by or linked to any of the entities or individuals included in the list
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.
AI-drafted · 1-model AI consensus fact-check · under the editorial review of our expert review panel · decoded & published by BankPulse · 07 Jul 2026, 01:46 IST
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7646&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert review panel. Independent platform, not affiliated with the Reserve Bank of India; never reproduces RBI text verbatim.
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