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United Nations Security Council Resolution, implementation by the Reserve Bank India

As per section 51 of the Master Direction on Know Your Customer dated February 25, 2016 as amended on December 18, 2020, in terms of which “Regulated Entities shall ensure that in terms of Section 51A of the Unlawful Activities (Prevention) Act, 1967, they do not have any account in the name of individuals/entities appearing in the lists of individuals and entities, suspected of having terrorist links, which are approved by and periodically circulated by the United Nations Security Council (UNSC).” Further, in terms of Section 53 of the Master Direction, Regulated Entities have to take note of other UNSC Resolutions circulated by the Reserve Bank in respect of any other jurisdictions/ entities from time to time.

In this regard, it was advised that the UNSC Committee established pursuant to resolution 1518 (2003) has approved the removal of the two individuals from its List of Individuals and Entities subject to the assets freeze set out by paragraphs 19 and 23 of Security Council resolution 1483 (2003) adopted under Chapter VII of the Charter of the United Nations.

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