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 mandatory direction requiring phase-wise adoption of the 1600-series numbering by entities in the Banking, Financial Services and Insurance (BFSI) sector regulated by RBI, SEBI, and PFRDA. The initiative aims to enhance consumer trust, curb spam, and prevent fraudulent voice calls by enabling citizens to reliably identify legitimate calls from regulated financial institutions. Approximately 485 entities have already adopted the series, subscribing to over 2,800 numbers.

Key Points

  • TRAI mandates time-bound adoption of 1600-series numbers for BFSI sector entities regulated by RBI, SEBI, and PFRDA
  • The 1600-series distinguishes service and transactional calls from regulated entities versus commercial communications
  • 485 entities have already adopted the series with over 2,800 numbers subscribed
  • Phase-wise implementation schedule issued after consultations with BFSI sector regulators through Joint Committee of Regulators (JCoR)
  • Entities continuing to use standard 10-digit numbers for service calls must shift to 1600-series
  • Insurance sector adoption timelines under discussion with IRDAI, to be notified separately

Regulatory Changes

SEBI-Regulated Entities:

  • All Mutual Funds and Asset Management Companies (AMCs) must adopt 1600-series
  • All Qualified Stockbrokers (QSBs) must adopt 1600-series
  • Other SEBI-registered intermediaries may voluntarily migrate after verification of registration details

RBI-Regulated Entities:

  • Commercial Banks (Public Sector, Private Sector, and Foreign Banks) must onboard
  • Large NBFCs (asset size above ₹5,000 crore), Payments Banks, and Small Finance Banks must onboard
  • Remaining NBFCs, Co-operative Banks, Regional Rural Banks, and smaller entities must onboard

PFRDA-Regulated Entities:

  • Central Recordkeeping Agencies (CRAs) and Pension Fund Managers must onboard

Compliance Requirements

For SEBI-Regulated Entities:

  • Mutual Funds and AMCs: Complete migration to 1600-series numbering
  • Qualified Stockbrokers: Complete migration to 1600-series numbering
  • Other SEBI intermediaries: Voluntary migration permitted after registration verification

For RBI-Regulated Entities:

  • Commercial Banks: Complete onboarding process
  • Large NBFCs, Payments Banks, Small Finance Banks: Complete onboarding process
  • Remaining NBFCs, Co-operative Banks, Regional Rural Banks: Complete onboarding process

For PFRDA-Regulated Entities:

  • CRAs and Pension Fund Managers: Complete onboarding process

General Requirements:

  • Entities must use 1600-series numbers for all service and transactional calls
  • Standard 10-digit numbers should be discontinued for such communications
  • Registration details must be verified with respective regulators

Important Dates

SEBI-Regulated Entities:

  • February 15, 2026: Deadline for all Mutual Funds and AMCs to complete adoption
  • March 15, 2026: Deadline for all Qualified Stockbrokers to complete adoption

RBI-Regulated Entities:

  • January 1, 2026: Commercial Banks (PSBs, Private Banks, Foreign Banks) onboarding deadline
  • February 1, 2026: Large NBFCs (>₹5,000 crore assets), Payments Banks, and Small Finance Banks onboarding deadline
  • March 1, 2026: Remaining NBFCs, Co-operative Banks, Regional Rural Banks onboarding deadline

PFRDA-Regulated Entities:

  • February 15, 2026: Central Recordkeeping Agencies and Pension Fund Managers onboarding deadline

Insurance Sector:

  • Timelines under discussion with IRDAI, to be notified subsequently

Impact Assessment

Market Impact:

  • All SEBI-registered mutual funds, AMCs, and stockbrokers must implement new calling infrastructure by specified deadlines
  • Significant operational changes required for entities still using 10-digit numbers for customer communications
  • Enhanced consumer protection may improve investor confidence in legitimate financial institution communications

Operational Impact:

  • Entities need to coordinate with Telecom Service Providers for 1600-series number allocation
  • Internal systems, CRM platforms, and customer databases may require updates to reflect new contact numbers
  • Customer communication and awareness campaigns needed to inform clients about new official contact numbers
  • Training required for customer service teams on new numbering protocols

Compliance Impact:

  • Mandatory compliance with strict phase-wise deadlines starting January 1, 2026
  • Non-compliance may result in regulatory action from respective sector regulators
  • Entities must verify registration details with SEBI, RBI, or PFRDA as applicable

Consumer Protection Impact:

  • Significantly improved ability for consumers to identify legitimate calls from regulated financial institutions
  • Reduced risk of impersonation-based financial frauds perpetrated through voice calls
  • Enhanced consumer trust in financial sector communications
  • Better spam and fraud prevention mechanisms

Impact Justification

Mandatory regulatory requirement affecting all SEBI-registered mutual funds, AMCs, stockbrokers, and other BFSI entities with strict phase-wise deadlines starting January 2026