Download RBI Circular No. 2013-14/170 Dated August 1, 2013 For Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1988 (2011) Sanctions List – Primary (Urban) Co-operative Banks

Download RBI Circular No. 2013-14/170 Dated  August 1, 2013 For Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1988 (2011) Sanctions List – Primary (Urban) Co-operative Banks

RBI/2013-14/170

UBD BPD (PCB) Cir. No.3/14.01.062/2013-14                                             August 1, 2013

The Chief Executive Officer

All Primary (Urban) Co-operative Banks

Madam / Dear Sir,

Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1988 (2011) Sanctions List – Primary (Urban) Co-operative Banks

Please refer to our circular UBD.BPD.(PCB).Cir.No.23/14.01.062/2012-13 dated November 2, 2012 on the captioned subject.  We have since received from the Ministry of External Affairs, UNP Division, Government of India a copy of note dated June 27, 2013 (copy enclosed) forwarded by the Chairman of UN Security Council’s 1988 Committee regarding changes made in the “1988 Sanctions List”, i.e. list of Individuals and entities linked to Taliban.

2.       Primary (Urban)  Co-operative  Banks   (UCBs)  are  required  to  update  the  list  ofindividuals/entities as circulated by Reserve Bank of India.  Before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list.  Further, banks should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.

3. UCBs are advised to strictly follow the procedure laid down in the UAPA Order dated August 27, 2009 enclosed to our circular UBD.CO.BPD. PCB. Cir. No. 21/12.05.001/2009-10 dated November 16, 2009 and ensure meticulous compliance to the Order issued by the Government.

4. In so far as freezing of funds, financial assets or economic resources or related services held in the form of bank accounts of the designated individuals/entities are concerned,action should be taken as detailed in paragraph 7 of the circular dated November 16, 2009 mentioned above.

5.     Complete   details   of   the   said   list   are   available   on   the   UN   website:http://www.un.org/sc/committees/1988/list.shtml

6. Compliance Officer/Principal Officer should acknowledge receipt of this circular to the Regional Office concerned.

Yours faithfully,

(P.K. Arora)

General Manager

Encls.: As above.