Description

BSE reminds Research Analysts to comply with TRAI's November 2025 directive mandating use of 1600xx-series numbers for service/transactional calls and 140xx-series numbers exclusively for promotional calls.

Summary

BSE has issued a reminder to Research Analysts to comply with the Telecom Regulatory Authority of India (TRAI) direction dated November 19, 2025, which mandates specific numbering series for different categories of voice calls. Entities regulated by RBI, SEBI, and PFRDA must use 1600xx-series numbers for service and transactional calls, and 140xx-series numbers 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 Research Analysts to comply with TRAI directions; this notice reiterates that requirement
  • Definitions of transactional, service, and promotional calls per Telecom Commercial Communications Preference Regulations, 2018 are enclosed as an annexure

Regulatory Changes

No new regulatory changes are introduced by this circular. It reaffirms compliance with TRAI’s existing direction (November 19, 2025) under the Telecom Commercial Communications Preference Regulations, 2018, which prescribes mandatory use of designated numbering series for categorized voice communications.

Compliance Requirements

  • Research Analysts must ensure strict compliance with the use of 1600xx-series numbers solely for service and transactional calls
  • Research Analysts must use 140xx-series numbers exclusively for promotional calls
  • Analysts should refer to the enclosed Annexure for precise definitions of service, transactional, and promotional communications under TCCPR 2018

Important Dates

  • November 19, 2025: Original TRAI direction issued
  • May 5, 2026: BSE reminder notice issued; compliance expected immediately

Impact Assessment

This circular has low direct market or trading impact. It is an operational compliance requirement targeted specifically at Research Analysts, requiring them to route voice calls through the correct TRAI-designated numbering series. Non-compliance could expose Research Analysts to regulatory action from TRAI or SEBI. The impact is limited to internal communication infrastructure and call routing practices of Research Analyst firms.

Impact Justification

Regulatory reminder to Research Analysts about TRAI call numbering compliance; no market-wide trading or listing impact, but mandates operational process changes for Research Analysts making client calls.