Banks and NBFCs must freeze assets of three newly amended entries in the UNSC 1267/1989 ISIL & Al-Qaida sanctions list under Section 51A of UAPA. The RBI notification ensures compliance with global counter-terrorism obligations.
RBI Enforces Updates to UN Anti-Terrorism Sanctions List
The Reserve Bank of India, on October 19, 2026, directed all commercial banks, NBFCs, and financial institutions to implement amendments to the United Nations Security Council’s 1267/1989 ISIL (Da’esh) & Al-Qaida sanctions list. The update, issued under Section 51A of the Unlawful Activities (Prevention) Act, 1967 (UAPA), requires immediate freezing of funds related to three amended entries.
Section 51A mandates Indian financial entities to act on UNSC-designated individuals and entities without delay. The RBI’s circular ensures compliance with international counter-terrorism financing standards set by the Financial Action Task Force (FATF). Institutions must screen their portfolios and update watchlists accordingly, submitting confirmatory reports as required.
Legal teams in financial institutions must integrate these updates into their KYC and transaction monitoring systems. Failure to comply may attract regulatory penalties and reputational risk, especially given the heightened scrutiny on AML controls.
Citations
- Section 51A, UAPA, 1967
