RBI and TRAI will jointly issue numbers starting from 140/160 in the country. Common people will get more information than before

In view of the increasing incidents of financial fraud, RBI (Reserve Bank of India) has issued new rules, which will help banks and financial institutions to avoid fake calls and messages. Let us know what these new rules are and how they will help in preventing fraud.

1. Mobile Number Revocation List (MNRL)

RBI has directed banks, NBFCs (Non-Banking Financial Companies) and payment aggregators to use the mobile number revocation list of the Department of Telecommunications (DoT). This will block those mobile numbers which are invalid or closed. This will increase the security of the customer's account and prevent fraud.

2. Use of new number series

Banks and other financial institutions will now have to use the 140/160 number series for voice calls. Meaning, you will receive transactional messages from numbers like '1600xx' and promotional calls from numbers like '140xx' in the future. This will help customers identify which calls are genuine and which are fake.

3. Registration of Customer Service Number

Under the new rules of RBI, all entities will have to register their customer service numbers on the Sanchar Sathi portal. The aim of this measure is to increase transparency and help in identifying fake numbers. Apart from this, all the entities will also have to register on the DLT (Distributed Ledger Technology) platform of TRAI (Telecom Regulatory Authority of India).

4. Pre-Designed Templates

Organizations need to use pre-designed SMS and call templates to send promotional messages. For this, it will be mandatory to take clear digital consent from the customers. This measure will curb illegal activities of telemarketers.

5. Disclosure of security breaches

Under the new RBI rules, entities will be required to report any security breach. This will provide customers with information about the status of their information and security.

These new rules of RBI will not only help in preventing financial frauds but will also increase the security of customers. This move will strengthen the security of the Indian digital financial ecosystem. Now, the next time you receive a call or SMS, make sure it is from a verified number.