Current · Source: Reserve Bank of India · RBI/2012-13/274 · issued 01 Nov 2012 · ~1 min read
Quick answerRBI directs all Primary (Urban) Co-operative Banks to update their records with the latest UNSCR 1988 sanctions list, screen new and existing accounts against it, and follow UAPA freezing procedures.
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
Urban Co-op Banks must update their list of bad people (sanctions list) with the new names from the UN and Indian government.
Before opening a new account, check the customer's name against the updated list to make sure they are not on it.
Check all existing accounts to see if any belong to people or groups on the list, and freeze (lock) those accounts if found.
Follow the special rules from the 2009 UAPA order (a law against supporting terrorism) for freezing accounts and handling money.
The Compliance Officer (person in charge of following rules) must tell the RBI regional office that they got this update.
How it plays out — a real example
A co-operative bank branch officer in Indore, Priya, receives this RBI circular. She immediately updates her bank's internal list of banned individuals and entities. Before approving a new gold loan for a customer, she screens the applicant's name against the updated list. She also runs a scan of all existing loan accounts and finds one linked to a newly added name, so she freezes that account and follows the 2009 UAPA freezing procedures.
What changed
RBI has forwarded a new update from the Ministry of External Affairs, based on the UN Security Council's 1988 Committee, containing changes to the sanctions list of individuals and entities linked to the Taliban. This supersedes the previous list circulated via circular dated October 09, 2012.
What it means for you
UCBs must immediately update their internal sanctions lists and screen all new account openings against the updated list. Existing accounts must also be scanned to ensure no matches exist, and any frozen assets must be handled per the 2009 UAPA order.
What you must do
Update your internal sanctions list with the latest UNSCR 1988 changes received from RBI via Ministry of External Affairs.
Screen all new account applications against the updated list before opening accounts.
Scan all existing accounts to identify and freeze any linked to listed individuals/entities.
Follow the freezing procedures detailed in paragraph 7 of RBI's November 16, 2009 circular.
Ensure the Compliance Officer or Principal Officer acknowledges receipt of this circular to the Regional Office concerned.
Who it affects
All Primary (Urban) Co-operative Banks, Compliance Officers, Principal Officers
❓ Common questions
What is the source of the updated sanctions list?
The list is from the UN Security Council's 1988 Committee, forwarded by the Ministry of External Affairs. The full list is available on the UN website.
What action is required for existing accounts?
Banks must scan all existing accounts to ensure no account is held by or linked to any individual or entity on the updated sanctions list.
What should we do if we find a match?
Follow the freezing procedures detailed in paragraph 7 of RBI circular UBD.CO.BPD. PCB. Cir. No. 21/12.05.001/2009-10 dated November 16, 2009.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/274
UBD.BPD (PCB) Cir. No. 22/14.01.062/2012-13
November 1, 2012
The Chief Executive Officer of
All Primary (Urban) Co-operative Banks
Madam/Dear Sir,
I mplementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1988 (2011) Sanctions List – Primary (Urban) Co-operative Banks
Please refer to our circular UBD.BPD (PCB) Cir. No.16/14.01.062/2012-13 dated October 09, 2012 . We have since received from Government of India, Ministry of External Affairs, UNP Division, copy of note dated October19, 2012 forwarded by the Chairman of UN Security Council's 1988 (2011) Committee (copy enclosed) regarding changes made in the ‘1988 Sanctions List’, i.e. list of individuals and entities linked to Taliban.
2. Primary (Urban) Co-operative Banks (UCBs) 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. UCBs are advised to strictly follow the procedure laid down in the UAPA Order dated August 27, 2009 enclosed to our circular UBD.CO.BPD. PCB. Cir. No. 21/12.05.001/2009-10 dated November 16, 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 7 of the circular dated November 16, 2009, mentioned above.
5. The complete details of the said list are available on the UN website:
http://www.un.org/sc/committees/1988/list.shtm l
6. Compliance Officer/Principal Officer should acknowledge receipt of this circular to the Regional Office concerned.
Yours faithfully,
( Scenta Joy )
Deputy General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/274 · issued 01 Nov 2012. The plain-English explanation above is BankPulse’s own independent summary.
Screen all new account applications against the updated list before opening accounts.
📜 Compliance
Update your internal sanctions list with the latest UNSCR 1988 changes received from RBI via Ministry of External Affairs.
Scan all existing accounts to identify and freeze any linked to listed individuals/entities.
Follow the freezing procedures detailed in paragraph 7 of RBI's November 16, 2009 circular.
Ensure the Compliance Officer or Principal Officer acknowledges receipt of this circular to the Regional Office concerned.
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 (All Primary (Urban) Co-operative Banks, Compliance Officers, Principal Officers), your first concrete step on “UAPA Sanctions List Update for Urban Co-op Banks” is: “Update your internal sanctions list with the latest UNSCR 1988 changes received from RBI via Ministry of External Affairs.” (RBI issued this 01 Nov 2012).
Circular: RBI/2012-13/274 -- UAPA Sanctions List Update for Urban Co-op Banks
Issued: 01 Nov 2012
Action required: Update your internal sanctions list with the latest UNSCR 1988 changes received from RBI via Ministry of External Affairs.
Action required: Screen all new account applications against the updated list before opening accounts.
Action required: Scan all existing accounts to identify and freeze any linked to listed individuals/entities.
Action required: Follow the freezing procedures detailed in paragraph 7 of RBI's November 16, 2009 circular.
Action required: Ensure the Compliance Officer or Principal Officer acknowledges receipt of this circular to the Regional Office concerned.
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=7665&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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