Description

TRAI issues Direction mandating phase-wise adoption of 1600-series numbering by entities regulated by RBI, SEBI, and PFRDA to enhance consumer trust and prevent fraudulent calls.

Summary

The Telecom Regulatory Authority of India (TRAI) has issued a Direction on November 19, 2025, mandating phase-wise adoption of the ‘1600’ numbering series by entities in the Banking, Financial Services and Insurance (BFSI) sector regulated by RBI, SEBI, and PFRDA. This initiative aims to enhance consumer trust, curb spam, and prevent fraudulent activities through voice calls by clearly distinguishing legitimate service and transactional calls from commercial communications. Approximately 485 entities have already adopted the 1600 series, subscribing to over 2,800 numbers.

Key Points

  • TRAI mandates time-bound adoption of 1600-series numbers for BFSI sector entities
  • The 1600 series has been assigned by DoT to clearly distinguish legitimate calls from regulated financial institutions
  • About 485 entities have already adopted the series with over 2,800 numbers subscribed
  • Phase-wise implementation schedule developed in consultation with sector regulators through Joint Committee of Regulators (JCoR)
  • Mandatory adoption aims to reduce risk of fraudulent calls impersonating trusted financial institutions
  • Insurance sector timelines under discussion with IRDAI, to be notified separately

Regulatory Changes

  • Introduction of mandatory 1600-series numbering requirement for BFSI sector entities
  • Replacement of standard 10-digit numbers with 1600-series for service and transactional calls
  • Regulatory framework developed through collaboration between TRAI and BFSI sector regulators (RBI, SEBI, PFRDA)
  • Other SEBI-registered intermediaries (beyond Mutual Funds, AMCs, and QSBs) may voluntarily migrate after registration verification

Compliance Requirements

SEBI-Regulated Entities

  • Mutual Funds and Asset Management Companies (AMCs): Must complete adoption by 15th February, 2026
  • Qualified Stockbrokers (QSBs): Must complete adoption by 15th March, 2026
  • Other SEBI-registered intermediaries: Voluntary migration permitted after verification

RBI-Regulated Entities

  • Commercial Banks (Public Sector, Private Sector, and Foreign Banks): Must onboard by 1st January, 2026
  • Large NBFCs (asset size above ₹5,000 crore), Payments Banks, and Small Finance Banks: Must onboard by 1st February, 2026
  • Remaining NBFCs, Co-operative Banks, Regional Rural Banks, and smaller entities: Must onboard by 1st March, 2026

PFRDA-Regulated Entities

  • Central Recordkeeping Agencies (CRAs) and Pension Fund Managers: Must onboard by 15th February, 2026

Important Dates

  • 1st January, 2026: Commercial Banks (PSBs, Private, Foreign) deadline
  • 1st February, 2026: Large NBFCs, Payments Banks, Small Finance Banks deadline
  • 15th February, 2026: Mutual Funds, AMCs, CRAs, and Pension Fund Managers deadline
  • 1st March, 2026: Remaining NBFCs, Co-operative Banks, Regional Rural Banks deadline
  • 15th March, 2026: Qualified Stockbrokers deadline
  • To be notified: Insurance sector entities (under discussion with IRDAI)

Impact Assessment

Operational Impact

  • All affected entities must migrate their communication infrastructure to 1600-series numbers within specified timelines
  • Requires coordination with Telecom Service Providers for number allocation and implementation
  • Entities need to update customer-facing documentation, websites, and communication materials
  • System changes required for call routing and telecommunications infrastructure

Consumer Protection Impact

  • Enhanced ability for customers to identify legitimate calls from regulated financial institutions
  • Reduced risk of falling victim to impersonation-based financial frauds
  • Improved consumer trust in financial sector communications
  • Better spam filtering and fraud detection capabilities

Market Impact

  • Affects entire BFSI ecosystem including all stockbrokers, mutual funds, banks, NBFCs, and pension funds
  • Standardized approach across sectors improves overall market integrity
  • Non-compliance may result in regulatory action and reputational damage
  • Creates clear distinction between legitimate financial institution calls and spam/fraud attempts

Impact Justification

Mandatory compliance requirement affecting all SEBI, RBI, and PFRDA regulated entities with specific deadlines; impacts operational communication systems across entire BFSI sector