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FATF AML/CFT Update for RRBs and Co-op Banks

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2013-14/407 · issued 10 Dec 2013 · ~1 min read
Quick answerRBI directs RRBs and co-op banks to consider FATF's October 2013 update on high-risk jurisdictions. Banks must review AML/CFT risks but legitimate trade with those countries remains allowed.

What changed

FATF issued an updated statement on October 18, 2013, regarding jurisdictions with AML/CFT deficiencies. RBI now requires RRBs and co-op banks to factor this update into their risk assessments.

What it means for you

Banks must stay current with FATF's evolving list of high-risk jurisdictions to avoid regulatory gaps. While legitimate business with these countries is not banned, enhanced due diligence may be needed for transactions involving them.

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

Who it affects

All Regional Rural Banks (RRBs), State and Central Co-operative Banks, Principal Officers of these banks

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Does this circular ban transactions with the listed jurisdictions?

No, it explicitly states that Indian banks are not precluded from legitimate trade and business transactions with those countries.

What should our Principal Officer do after receiving this circular?

The Principal Officer must acknowledge receipt of this circular letter to the concerned regional RBI office.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #969: RPCD.RRB.RCB.AML.No.6235/07.51.018/2013-14 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards" dated December 10, 2013”
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/407 RPCD.RRB.RCB.AML.No.6235/07.51.018/2013-14 December 10, 2013 The Chairmen / CEOs of All Regional Rural Banks / State and Central Co-operative Banks Dear Sir/Madam, Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards Please refer to our letter RPCD.RRB.RCB.AML.No.342/07.51.018/2013-14 dated July 5, 2013 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 18, 2013 ( copy enclosed ). The statement / document can be accessed from the following URLs also : http://www.fatf-gafi.org/media/fatf/documents/statements/18-October-2013.pdf and http://www.fatf-gafi.org/topics/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-oct-2013.html 3. All Regional Rural Banks and State / Central Co-operative Banks are accordingly advised to consider the information contained in the enclosed statement. This, however, does not preclude Indian banks from legitimate trade and business transactions with these countries and jurisdictions. 4. Please advise your Principal Officer to acknowledge receipt of this circular letter to our regional office concerned. Yours faithfully, (A.G. Ray) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/407 · issued 10 Dec 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=8627&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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