
Banks 1600xx and 1400xx mobile numbers: To stop financial frauds, the Reserve Bank of India (RBI) has issued new guidelines for banks and other regulated entities (REs). RBI has focussed on using designated phone number series for customer communication.
The RBI has directed banks to use the ‘1600xx’ numbering series exclusively for transactional and service-related calls. For promotional calls, banks and REs are required to use the ‘140xx’ numbering series. With this, customers can now easily identify legitimate calls and avoid falling victim to frauds.
This will be highly beneficial for all the Bank Customers as it will help in preventing financial fraud. Right now, fraudsters call people from unknown numbers and pretend to be a Bank Officer. People get tricked by these fraudsters and believe them to be bank officers and share their important data. Once fraudsters get their data and OTP, they withdraw money from their accounts. But now, Banks will call customers only from numbers starting from 1600xx and 1400xx. This means that if people receive a call from any other number then it’s a fraud call. Like this, it will help a lot in decreasing fraud.
Banks and REs have been instructed to actively monitor and clean their customer databases. They are to use 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. This will help identify and address discrepancies, such as revoked mobile numbers, which could otherwise be exploited for fraudulent purposes.
The Growing Concern of Digital Fraud
With the rapid increase in digital transactions, fraud has become a significant concern. The RBI noted that mobile numbers play a crucial role in account authentication, receiving sensitive payment information like OTPs, and transaction alerts. However, scammers often misuse mobile numbers to commit various types of online fraud.
Standard Operating Procedures (SOPs)
The RBI has asked REs to develop and implement Standard Operating Procedures (SOPs) to enhance fraud risk monitoring and prevention. These SOPs should include:
- Verification of Registered Mobile Numbers (RMNs): Ensure due verification before updating RMNs.
- Enhanced Account Monitoring: Pay special attention to accounts linked to revoked mobile numbers to prevent their misuse as “money mule” accounts or for cyber fraud.
The RBI has also emphasized compliance with the Telecom Regulatory Authority of India’s (TRAI) guidelines on commercial communication via voice calls and SMS. This includes adhering to the prescribed numbering series and other telecom resource usage norms.
Banks 1600xx and 1400xx mobile number: Compliance Deadline
The RBI has set March 31, 2025, as the deadline for banks and REs to ensure full compliance with these instructions. These measures underscore the RBI’s commitment to strengthening safeguards against financial fraud, enhancing customer security, and promoting trust in digital transactions.