No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2012-13/470 · issued 04 Apr 2013 · ~1 min read
Quick answerRBI directs Primary (Urban) Co-operative Banks to consider FATF's updated statements on AML/CFT compliance from October 2012 and February 2013, without blocking legitimate trade with listed jurisdictions.
What changed
FATF updated its public statement and compliance document on October 19, 2012, and February 22, 2013, regarding high-risk and non-cooperative jurisdictions. RBI now requires UCBs to factor these updates into their AML/CFT risk assessments.
What it means for you
UCBs must stay current with FATF's evolving list of jurisdictions with AML/CFT deficiencies to manage correspondent banking and cross-border risks. The circular does not prohibit legitimate transactions but expects enhanced due diligence where needed. Principal Officers must confirm receipt to the regional RBI office.
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 FATF statements from October 2012 and February 2013 for updated high-risk jurisdictions.
Update internal AML/CFT policies and risk assessments based on FATF's latest findings.
Ensure Principal Officer acknowledges receipt of this circular to the concerned RBI Regional Office.
Do not restrict legitimate trade and business with listed countries; apply risk-based measures instead.
Who it affects
All AD Category I Primary (Urban) Co-operative Banks, Principal Officers of UCBs, AML/CFT compliance teams at UCBs
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 15:47 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 FATF-listed jurisdictions?
No. The circular explicitly states it does not preclude UCBs from legitimate trade and business with those countries. Banks should apply risk-based due diligence, not a blanket ban.
What must the Principal Officer do after receiving this circular?
The Principal Officer must acknowledge receipt of this circular to the relevant RBI Regional Office, as per paragraph 4 of the circular.
📜 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)
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/470
UBD.BPD (AD) Cir.No. 3/14.01.062/2012-13
April 4, 2013
The Chief Executive Officer of
All AD Category I Primary (Urban) Co-operative Banks
Madam/Dear Sir,
Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) – Standards – Primary (Urban) Co-operative Banks
Please refer to our circular UBD.BPD (AD) Cir.No. 1/14.01.062/2012-13 dated August 3, 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 the subject and document ‘Improving Global AML/CFT Compliance: On-going process’ on October 19, 2012 and February 22, 2013 (copies enclosed). The statements/documents can be accessed from the following URL also:
http://www.fatf-gafi.org/media/fatf/documents/FATF%20Public%20Statement%2019%20October%202012.pdf
and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/improvingglobalamlcftcomplianceon-goingprocess-19october2012.html
http://www.fatf-gafi.org/documents/documents/fatfpublicstatement22february2013.html
and
http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/improvingglobalamlcftcomplianceon-goingprocess-22february2013.html
3. Primary (Urban) Co-operative Banks (UCBs) are accordingly advised to consider the information contained in the enclosed Statement. This, however, does not preclude UCBs from legitimate trade and business transactions with these countries and jurisdictions.
4. The Principal Officer should acknowledge receipt of this circular to our Regional Office concerned.
Yours faithfully,
(P. K. Arora)
General Manager
Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/470 · issued 04 Apr 2013. The plain-English explanation above is BankPulse’s own independent summary.
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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=7927&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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