The Reserve Bank of India (RBI) has issued new guidelines to prevent increasing financial frauds through voice calls and SMS. These instructions aim to secure India’s digital financial ecosystem by preventing misuse of mobile numbers. All Regulated Entities (REs) These security measures will have to be implemented by March 31, 2025.
What are the new guidelines of RBI?
1. Use of Mobile Number Revocation List (MNRL)
RBI has directed that:
- Banks, NBFCs and Payment Aggregators Track blocked or invalid mobile numbers through MNRL.
- Monitor the accounts linked to these numbers to prevent fraud.
2. customer awareness
- Information about these new rules to customers Email, SMS, and regional languages Will be given in.
- This awareness campaign will help in reducing the potential threats of fraud.
New rules: The format of calls and messages will change
1. 140/160 numbering series
Now banks, stock brokers, and other financial institutions must:
- Service and transactional messages For ‘1600xx’ series Will have to be used.
- promotional calls For ‘140xx’ series Use will be mandatory.
This will make it easier for customers to identify whether a call or message has come from a registered entity or not.
Mandatory registration of customer care number
1. Registration on DoT’s Sanchar Sathi portal
all entities in their customer care number To Department of Telecommunications (DoT) Have to register on the portal.
- This step will help customers to identify fake numbers.
- This will increase both transparency and security.
2. Template-Based Communication
To all entities:
- TRAI Registration will have to be done on the Distributed Ledger Technology (DLT) platform.
- Pre-defined templates have to be used for SMS and calls.
3. Digital consent required from customers
from customers before sending promotional messages digital consent It will be mandatory to take it.
- Its purpose is to prevent unwanted communications and monitor telemarketers.
Mandatory to provide information on security breach
- all entities in their system at any security breach The report will have to be given immediately.
- This will help in controlling fraud faster.
RBI and TRAI’s effort to strengthen digital financial security
RBI and TRAI have taken this step keeping in mind the increasing threats in digital transactions.
- These guidelines will help in curbing misuse of mobile numbers and fraudulent activities.
- India’s digital financial ecosystem will become more secure and reliable.
