RBI Enforces Strict Rules: Banks to Contact Customers Only from 2 Official Numbers

New Delhi (The Uttam Hindu): Fraudulent and spam calls have become a widespread nuisance, frustrating mobile users with their relentless frequency. These calls often lead to financial scams, as many individuals mistakenly believe they are receiving genuine communications from their banks. To combat this growing issue, the Reserve Bank of India (RBI) has implemented a crucial measure to safeguard customers.

The RBI has introduced specific phone number series exclusively for financial institutions to use when contacting customers for transaction and marketing purposes. This initiative aims to protect users from fraudulent calls and enhance trust in legitimate banking communications.

As per the RBI’s directive, all banks must use phone numbers starting with 1600 for transaction-related calls. This will allow users to easily identify authentic financial communications and avoid falling victim to scams. Additionally, for marketing calls and SMS notifications, the RBI has allocated numbers starting with 140. These numbers will be used for promotional messages, such as offers for personal loans, credit cards, and insurance.

This initiative comes in response to the rising number of fraud cases where scammers impersonate bank representatives to defraud unsuspecting individuals. By streamlining communication channels, the RBI aims to provide much-needed relief to customers and improve the security of financial interactions.