Fri Jan 17 14:38:37 UTC 2025: ## RBI Mandates Specific Phone Numbers for Bank Calls to Curb Fraud

**Mumbai, India** – The Reserve Bank of India (RBI) has issued a directive requiring banks and other regulated entities (REs) to use specific phone number series for customer communication to combat the rising tide of financial fraud. Effective immediately, transactional calls must originate from the ‘1600xx’ series, while promotional calls are restricted to the ‘140xx’ series. This move aims to make it easier to identify and block fraudulent calls and messages.

The RBI’s action highlights the growing concern over financial fraud facilitated by voice calls and SMS messages. With the increase in digital transactions, scammers are increasingly exploiting mobile numbers – a key identifier in account authentication and transaction processes – to perpetrate various online frauds.

In addition to the number restrictions, the RBI has instructed REs to utilize the Mobile Number Revocation List (MNRL) available on the Digital Intelligence Platform (DIP) to cleanse their customer databases and identify potentially compromised numbers. Banks are also mandated to develop Standard Operating Procedures (SOPs) for updating registered mobile numbers and enhancing monitoring of accounts linked to revoked numbers. This includes actively preventing the use of such accounts for money laundering or other cybercrimes.

The RBI has given all REs until March 31, 2025, to comply with these new regulations, which also include adherence to guidelines set by the Telecom Regulatory Authority of India (TRAI) regarding commercial communication. Failure to comply could result in penalties. The new measures represent a significant step by the RBI in its ongoing efforts to protect consumers from increasingly sophisticated financial scams.

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