RBI New Guidelines: Banks to Use 1600xx and 140xx Series for Calls

In a bid to strengthen financial security and curb fraud, the Reserve Bank of India (RBI) has issued new guidelines for banks and other regulated entities (REs). According to the RBI's latest circular, all transactional calls to customers must originate from the '1600xx' phone numbering series, while promotional calls should use the '140xx' series.

The directive aims to prevent financial fraud conducted through voice calls and SMS, an issue that has grown with the rise in digital transactions. The RBI emphasized the importance of these measures in safeguarding customer information and preventing unauthorized access to sensitive financial data.

Key Directives:

Transactional Calls: Banks must use the '1600xx' series for all service-related calls.

Promotional Calls: For marketing purposes, only the '140xx' numbering series is permitted.

Compliance with TRAI Guidelines: Banks must adhere to the Telecom Regulatory Authority of India’s (TRAI) guidelines on commercial communications via calls or SMS.

Customer Database Management

The RBI has also urged banks and REs to regularly monitor and clean their customer databases. This involves utilizing the Mobile Number Revocation List (MNRL) available on the Digital Intelligence Platform (DIP) developed by the Department of Telecommunications (DoT) and the Ministry of Communications.

Measures to Prevent Fraud

To enhance fraud prevention, banks are required to develop Standard Operating Procedures (SOPs) that include:

Verification and Update: Ensuring registered mobile numbers (RMNs) are updated after proper verification.

Enhanced Monitoring: Closely monitoring accounts linked to revoked mobile numbers to prevent their misuse in cyber fraud or as Money Mules.

Deadline for Compliance

The RBI has set a deadline of March 31, 2025, for all REs to fully implement these guidelines and ensure compliance. The central bank's move underscores its commitment to fortifying the digital financial ecosystem against the backdrop of increasing fraud incidents.

This initiative reflects a proactive approach in reinforcing customer security and enhancing the integrity of the banking sector amidst the evolving landscape of digital finance.

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