What changed
RBI has forwarded a new UN Security Council 1267 Committee note (dated September 9, 2010) with changes to the consolidated list of individuals and entities linked to Al-Qaida and Taliban. RRBs are required to update their records accordingly and ensure compliance with earlier circulars on account screening and asset freezing.
What it means for you
RRBs must immediately update their internal databases with the revised UN list to prevent any new account opening for listed entities. Existing accounts must be scanned to identify and freeze any linked assets, following the UAPA Order and earlier RBI instructions. Non-compliance could lead to regulatory action and reputational risk.
What you must do
- Update the consolidated list of terrorist individuals/entities as per the UN Security Council 1267 Committee changes received from the Government of India.
- Screen all new account applications against the updated list before opening accounts.
- Scan all existing accounts to identify any linked to listed individuals/entities and take necessary action.
- Follow the procedure laid down in the UAPA Order dated August 27, 2009, and earlier RBI circular for freezing funds and assets.
- Ensure Compliance Officer/Principal Officer acknowledges receipt of this circular to the respective RBI Regional Office.
Who it affects
All Regional Rural Banks (RRBs), Compliance Officers and Principal Officers of RRBs, Branch managers handling account opening and KYC
What is the source of the updated list?
The list is based on changes made by the UN Security Council's 1267 Committee, forwarded by the Ministry of External Affairs via a note dated September 9, 2010.
What action is required for existing accounts?
RRBs must scan all existing accounts to ensure no account is held by or linked to any entity or individual on the updated list, and freeze assets as per the UAPA Order.
Where can the full consolidated list be accessed?
The complete list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.