Description

BSE reminds Investment Advisers to comply with TRAI's directive mandating use of 1600xx-series numbers for service/transactional calls and 140xx-series numbers exclusively for promotional calls.

Summary

BSE’s Membership Compliance department has issued a reminder to Investment Advisers to comply with TRAI’s direction dated November 19, 2025. The directive mandates that entities regulated by RBI, SEBI, and PFRDA use designated numbering series: 1600xx for service and transactional voice calls, and 140xx exclusively for promotional calls.

Key Points

  • TRAI direction dated November 19, 2025 applies to entities regulated by RBI, SEBI, and PFRDA
  • 1600xx-series numbers must be used exclusively for service and transactional voice calls
  • 140xx-series numbers must be used only for promotional calls
  • BSE had previously advised Investment Advisers on TRAI compliance; this is a reaffirmation
  • Definitions of transactional, service, and promotional calls (per TCCCPR 2018) are enclosed as Annexure

Regulatory Changes

No new regulatory changes introduced. This notice reiterates TRAI’s existing direction dated November 19, 2025, under the Telecom Commercial Communications Preference Regulations (TCCCPR), 2018, which established mandatory use of designated numbering series for different call categories.

Compliance Requirements

  • Investment Advisers must ensure strict use of 1600xx-series numbers solely for service and transactional calls
  • Investment Advisers must use 140xx-series numbers exclusively for promotional calls
  • Entities should refer to the Annexure for precise definitions of call categories under TCCCPR 2018
  • Ongoing adherence to all TRAI directions issued from time to time is required

Important Dates

  • November 19, 2025: Original TRAI direction issued
  • May 5, 2026: BSE reminder notice issued (Notice No. 20260505-20)
  • No new deadline specified; compliance is expected to be immediate and ongoing

Impact Assessment

This notice has low direct market impact as it pertains to telecom communication practices of Investment Advisers rather than trading or securities operations. However, non-compliance with TRAI directives could expose Investment Advisers to regulatory penalties from TRAI and potential scrutiny from SEBI. The operational impact is limited to updating outbound calling systems to route calls through the correct numbering series.

Impact Justification

Operational compliance reminder for Investment Advisers regarding TRAI telecom numbering rules; no direct market or trading impact, but non-compliance could attract regulatory action.