Current · Source: Reserve Bank of India · RBI/2013-14/310 · issued 03 Oct 2013 · ~1 min read
Quick answerRBI directs all NBFCs to update the UN 1988 Sanctions List for Taliban-linked individuals/entities. Before opening new accounts, verify names against the list; also scan 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
NBFCs (companies that give loans but are not banks) must get the newest UN list of people and groups linked to the Taliban.
Before opening a new account, check the customer's name against that list to make sure they are not on it.
Also check all existing accounts to see if any customer matches the list.
If you don't follow these rules, the RBI (India's central bank) can take action against you.
How it plays out — a real example
An NBFC compliance officer in Indore is opening a new account for a customer. She first pulls up the updated UN 1988 Sanctions List from the UN website, checks the customer's name, and finds no match. Then she also runs a quick scan of all her existing accounts to confirm none are linked to anyone on the list, keeping her NBFC safe from penalties.
What changed
RBI issued a circular on October 3, 2013, updating the UN 1988 Sanctions List for Taliban-linked entities, based on a June 27, 2013 note from the UN Security Council's 1988 Committee. This updates the list previously circulated on November 22, 2012. NBFCs must now use the updated list for customer screening.
What it means for you
NBFCs must immediately update their internal sanctions screening systems with the latest UN list to avoid onboarding or servicing prohibited entities. This reinforces the need for robust AML/KYC frameworks in the NBFC sector.
What you must do
Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.
Screen all new account applications against the updated list before account opening.
Review all existing customer accounts to identify any matches with the updated list.
Ensure no account is held by or linked to any entity or individual in the list.
Who it affects
All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs), Compliance and AML/KYC teams at NBFCs
❓ Common questions
What is the UN 1988 Sanctions List?
It is a list maintained by the UN Security Council's 1988 Committee of individuals and entities associated with the Taliban, subject to asset freezes and other sanctions.
How often does RBI update this list for NBFCs?
RBI issues circulars whenever the UN 1988 Committee updates the list. The previous circular was dated November 22, 2012. NBFCs must check the UN website for the latest version.
What should an NBFC do if it finds a match with the sanctions list?
Ensure that no account is held by or linked to the listed individual or entity, as per the RBI circular.
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/310
DNBS(PD).CC. No 357/03.10.42/2013-14
October 3, 2013
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 310/03.10.42/2012-13 dated November 22, 2012 . The Chairman of UN Security Council's 1988 Committee has issued notes dated June 27, 2013 ( 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,
(A. Mangalagiri)
General Manager
Encl: as above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/310 · issued 03 Oct 2013. The plain-English explanation above is BankPulse’s own independent summary.
Screen all new account applications against the updated list before account opening.
📜 Compliance
Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.
Review all existing customer accounts to identify any matches with the updated list.
Ensure no account is held by or linked to any entity or individual 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 (All Non-Banking Financial Companies (NBFCs), Residuary Non-Banking Companies (RNBCs), Compliance and AML/KYC teams at NBFCs), your first concrete step on “NBFCs Must Update UN Taliban Sanctions List” is: “Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.” (RBI issued this 03 Oct 2013).
Circular: RBI/2013-14/310 -- NBFCs Must Update UN Taliban Sanctions List
Issued: 03 Oct 2013
Action required: Update your internal sanctions list with the latest UN 1988 Sanctions List from the UN website.
Action required: Screen all new account applications against the updated list before account opening.
Action required: Review all existing customer accounts to identify any matches with the updated list.
Action required: Ensure no account is held by or linked to any entity or individual 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.
💬 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=8488&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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