RBI/2010-11/246
UBD.BPD. (PCB).Cir. No.17/14.01.062/2010-11

October 25, 2010

The Chief Executive Officers of
All AD I Category Urban Co-operative Banks

(As per List enclosed)

Dear Sir / Madam,

Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards /
Combating of Financing of Terrorism (CFT)

Please refer to our circular UBD.BPD.(PCB) Cir.No.7/14.01.062/2010-11 dated August  12, 2010.  As part of its ongoing review of compliance with the AML/CFT standards, the Financial Action Task Force (FATF) has identified certain jurisdictions which have strategic AML/CFT deficiencies.

2. FATF, vide its statement dated June 25, 2010 (copy enclosed) has called upon jurisdictions listed in the statement to complete the implementation of their action plan within the timeframe. The FATF, in the statement has called upon its members to consider the information given in the statement.

3. All banks and All India Financial Institutions are accordingly advised to consider the information contained in the enclosed statement.

4.  The Compliance Officer / Principal Officer of the bank should acknowledge receipt of this circular to our Regional Office concerned.

Yours faithfully

(M. Nanda Kumar)
Deputy General Manager

Encl: As above.

List of AD I category UCBs