Current · Source: Reserve Bank of India · RBI/2012-13/352 · issued 28 Dec 2012 · ~1 min read
Quick answerRBI mandates NBFCs to update their UN Al-Qaida sanctions list with November-December 2012 changes. Before opening new accounts, check customer names against the list; also scan existing accounts for matches. Full list is on the UN website.
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
NBFCs must add the UN Al‑Qaida sanctions list changes from November‑December 2012 to their internal screening list.
Before opening any new account, the bank must check the customer’s name against this updated list.
All existing customer accounts should be scanned to see if any names match the list.
The bank must keep a record of every screening check for audit and regulatory review.
If the bank fails to do this, it can face regulatory action under the UAPA 1967.
How it plays out — a real example
A gold‑loan officer in Indore named Ramesh receives a new loan application. He first looks up the applicant’s name on the updated UN sanctions list and finds no match, so he approves the loan. Later, he reviews older accounts and logs each check, feeling confident that the bank is compliant and safe.
What changed
The UN Security Council's 1267/1989 Committee updated its Al-Qaida Sanctions List through notes dated November 23, 26, 27, and December 5, 2012. RBI has directed all NBFCs to incorporate these changes into their internal screening lists.
What it means for you
NBFCs must immediately update their customer due diligence systems to include the latest UN sanctions list entries. Failure to screen new and existing accounts against this list could lead to regulatory action and compliance breaches under UAPA, 1967.
What you must do
Update your internal sanctions list with the latest UN Al-Qaida entries from November-December 2012.
Screen all new account applications against the updated list before onboarding.
Review all existing customer accounts to identify and report any matches with the list.
Maintain records of screening checks for audit and regulatory review.
Who it affects
All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs)
❓ Common questions
Where can we find the complete updated sanctions list?
The full list is available on the UN website at http://www.un.org/sc/committees/1267/aq_sanctions_list.shtml.
What should we do if we find a match in an existing account?
The circular does not specify further action, but standard practice under UAPA requires freezing the account and reporting to the relevant authorities immediately.
Does this apply only to new accounts?
No, it applies to both new accounts (pre-opening check) and existing accounts (retrospective scanning).
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/352
DNBS (PD).CC.No 318/03.10.42/2012-13
December 28, 2012
All Non Banking Financial Companies /
Residuary Non Banking Companies
Dear Sir/Madam,
Implementation of Section 51-A of UAPA, 1967 -Updates of the UNSCR 1267
(1999) /1989 (2011) Committee's Al Qaida Sanctions List
Please refer to DNBS (PD).CC.No 313/03.10.42/2012-13 dated December 10, 2012 . The Chairman of UN Security Council's 1267/ 1989 Committee has issued notes dated November 23 , 26 , 27 , and December 5, 2012 (copies enclosed) regarding changes made in the “Al-Qaida Sanctions List”, i.e. list of Individuals and entities linked to Al-Qaida.
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/1267/aq_sanctions_list.shtml
Yours faithfully,
(Chandana Dasgupta)
Deputy General Manager
Encl: as above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/352 · issued 28 Dec 2012. The plain-English explanation above is BankPulse’s own independent summary.
Maintain records of screening checks for audit and regulatory review.
💻 IT / Systems
Screen all new account applications against the updated list before onboarding.
📜 Compliance
Update your internal sanctions list with the latest UN Al-Qaida entries from November-December 2012.
Review all existing customer accounts to identify and report any matches with 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 (All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs)), your first concrete step on “UAPA Sanctions List Update for NBFCs (Dec 2012)” is: “Update your internal sanctions list with the latest UN Al-Qaida entries from November-December 2012.” (RBI issued this 28 Dec 2012).
Circular: RBI/2012-13/352 -- UAPA Sanctions List Update for NBFCs (Dec 2012)
Issued: 28 Dec 2012
Action required: Update your internal sanctions list with the latest UN Al-Qaida entries from November-December 2012.
Action required: Screen all new account applications against the updated list before onboarding.
Action required: Review all existing customer accounts to identify and report any matches with the list.
Action required: Maintain records of screening checks for audit and regulatory review.
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=7779&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.
Help us keep this accurate
Found an inaccuracy or have an improvement? Tell us. Every report is reviewed by our team before any change is made — nothing goes live unverified.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
BANKPULSE · FREE DAILY BRIEF
Get RBI updates for your role
Every important RBI update, decoded in plain English — for your career, exams & financial awareness.
We collect only your email, name and role, used solely to send your brief — never sold or shared. Withdraw anytime via the unsubscribe link in any email. Independent platform, not affiliated with the RBI. Information, not legal advice.
REPORT AN ERROR · BETA
Spotted an error? Earn 500 BankPulse Credits
Help us stay accurate. If your correction is verified true and approved by our founder, you earn 500 BankPulse Credits — redeemable when the platform monetises.
Reviewed by a human before any credit is awarded. We never change the site from crowd input without verification.
WANT A NEW FEATURE · BETA
What would make BankPulse more useful for you?
Tell us what to build next — a tool, a data view, a role page, anything. We read every suggestion.
Thank you — your ideas directly shape what we build.