What changed
RBI withdrew 15 circulars listed in the annexure, all dealing with lists of terrorist individuals/organizations under UNSCR 1267, 1822, 1988, 1989 and implementation of Section 51-A of UAPA, 1967. The withdrawal is effective from close of business on February 18, 2022.
What it means for you
NBFCs and RNBCs no longer need to reference these specific circulars for compliance; however, the underlying legal obligations under UAPA and UN sanctions remain in force. This cleanup reduces the volume of outdated instructions, simplifying compliance monitoring for lenders.
What you must do
- Remove these 15 circulars from your internal compliance checklists and reference documents.
- Ensure your KYC/AML screening processes still align with current UAPA and UNSC sanctions lists, as the underlying requirements are unchanged.
- Update your regulatory circular repository to reflect the withdrawal and avoid citing obsolete instructions.
Who it affects
All Non-Banking Financial Companies (NBFCs), Resident Non-Banking Financial Companies (RNBCs)
Does this withdrawal mean we no longer need to screen against UN terror lists?
No. The withdrawal only removes these specific circulars; the statutory obligations under UAPA, 1967 and UN Security Council resolutions remain fully in effect.
Which circulars have been withdrawn?
Fifteen circulars issued between May 2011 and September 2014, all related to lists of terrorist individuals/organizations under UNSCR 1267, 1822, 1988, 1989 and implementation of Section 51-A of UAPA.
When did this change take effect?
The withdrawal became effective from close of business on February 18, 2022.