Home › Circulars › RBI/2013-2014/128

AML/CFT Compliance Update for Urban Co-op Banks

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2013-2014/128 · issued 09 Jul 2013 · ~1 min read
Quick answerRBI directs Primary Urban Co-operative Banks to review FATF's updated June 2013 statement on AML/CFT compliance gaps in certain jurisdictions. Banks must consider the information but can continue legitimate trade with those countries.

What changed

FATF issued an updated statement and document 'Improving Global AML/CFT Compliance: On-Going Process' on June 21, 2013. RBI now requires UCBs to factor this update into their AML/CFT risk assessments.

What it means for you

UCBs must stay alert to evolving global AML/CFT standards and adjust their due diligence for transactions involving jurisdictions flagged by FATF. The circular does not ban business with those countries but expects banks to apply enhanced scrutiny where needed.

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 AD Category I Primary (Urban) Co-operative Banks, Principal Officers of UCBs

❓ 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 prohibit transactions with the listed jurisdictions?

No. The circular explicitly states it does not preclude legitimate trade and business transactions with those countries and jurisdictions.

What is the source of the updated AML/CFT guidance?

The Financial Action Task Force (FATF) issued the updated statement and compliance document on June 21, 2013, which is accessible via the URLs provided in the circular.

📜 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Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)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 #1064: UBD.BPD(AD).Cir.No.1/14.01.062/2013-14 — "Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards - Primary (Urban) Co-operative B”
📜 Read the original circular — full text as issued by RBI
RBI/2013-2014/128 UBD.BPD(AD).Cir.No.1/14.01.062/2013-14 July 9, 2013 The Chief Executive Officer 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.3/14.01.062/2012-13 dated April 4, 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’ has been issued on June 21, 2013 ( copy enclosed ). The statement / document can be accessed from the following URLs also: http://www.fatf-gafi.org/topics/key/public-statement-june-2013.html and http://www.fatf-gafi.org/topics/high-riskandnon- cooperativejurisdictions/documents/compliance-june-2013.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 Encls: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-2014/128 · issued 09 Jul 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8226&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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