What changed
RBI has forwarded a February 9, 2011 note from the UN Security Council's 1267 Committee with changes to the consolidated list of individuals/entities linked to Al-Qaida and Taliban. RRBs must now update their internal lists accordingly and ensure compliance with the updated UN sanctions list.
What it means for you
RRBs must immediately update their customer screening databases with the revised UN list. This affects both new account openings (mandatory pre-screening) and ongoing monitoring of existing accounts. Non-compliance with UAPA Order procedures for freezing assets could lead to regulatory action.
What you must do
- Update the consolidated list of terrorist individuals/entities as per the UNSC 1267 Committee changes received from Government of India.
- Before opening any new account, verify that the proposed customer's name does not appear in the updated list.
- Scan all existing accounts to ensure none are held by or linked to listed individuals/entities.
- Strictly follow the UAPA Order dated August 27, 2009 procedures for freezing funds, financial assets, or economic resources of designated entities.
- Acknowledge receipt of this circular to your respective RBI Regional Office through the Compliance Officer/Principal Officer.
Who it affects
All Regional Rural Banks (RRBs), Compliance Officers / Principal Officers of RRBs, Branch managers handling account opening and monitoring
What is the source of the updated list?
The list is the UN Security Council's 1267 Committee consolidated list of individuals and entities linked to Al-Qaida and Taliban, as forwarded by the Government of India (Ministry of External Affairs) via a note dated February 9, 2011.
What actions are 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. If a match is found, follow the freezing procedures outlined in paragraph 6 of the November 5, 2009 circular.
Where can the complete consolidated list be accessed?
The full list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.