RBI notifies removal of 3 entries from UNSC’s ISIL and Al-Qaida sanctions list under Section 51A of UAPA, 1967, requiring updates to freezing orders.
Removal of 3 Entries from Terror List
The Reserve Bank of India issued a notification on October 27, 2026, informing financial institutions of the deletion of three entries from the United Nations Security Council’s 1267/1989 ISIL (Da'esh) and Al-Qaida Sanctions List. The action, taken under Section 51A of the Unlawful Activities (Prevention) Act, 1967, requires banks and financial entities to review and release any previously frozen assets linked to delisted individuals.
Entities are instructed to verify their records and ensure compliance frameworks are updated to reflect the current sanctions list. Section 51A mandates that actions under the list—whether freezing or releasing assets—must be strictly in accordance with UNSC directives. Any continued restriction on delisted persons may lead to legal liability.
Compliance teams must coordinate legal, operations, and risk departments to identify affected accounts. Practitioners advising financial institutions should recommend a review of historical freezing orders and documentation to ensure both regulatory adherence and protection against civil claims.
Citations
- Unlawful Activities (Prevention) Act, 1967, Section 51A
