In a significant move to tackle the growing menace of online fraud and scam calls, the Telecom Regulatory Authority of India (TRAI) has launched a new '1600' number series dedicated exclusively for verified banking, financial services, and insurance (BFSI) calls.

Starting now, if you receive a phone call from a number beginning with 1600, you can rest assured it is from an authentic BFSI source such as a bank, insurance company, or financial institution.

Why Is the ‘1600’ Series Important?

Over the past few years, millions of people have fallen victim to fraudulent phone calls disguised as banks or insurance agents. Fraudsters trick individuals into revealing OTPs, personal information, or even transferring money.

To combat this, TRAI has allocated the 1600 number series to telecom companies, who in turn will issue these numbers only to verified financial institutions.

"This initiative will make it extremely difficult for scammers to impersonate BFSI employees," said TRAI Chairman Anil Kumar Lahoti in an interview with ET Telecom.

How It Will Work

• Calls starting with 1600 will be designated for transactional and service-related communication from trusted BFSI brands.

• Customers will be able to easily differentiate between real and fraudulent calls.

• If a call does NOT start with 1600, users can treat it as suspicious and avoid sharing sensitive information.

SBI Card Among First to Implement

Some companies have already started using this series. SBI Card has become one of the first financial institutions to adopt the 1600 number series, enhancing customer trust and communication security.

Regulatory Coordination Behind the Move

This development stems from a Joint Committee of Regulators formed in 2022, consisting of representatives from:

• RBI (Reserve Bank of India)

• SEBI (Securities and Exchange Board of India)

• IRDAI (Insurance Regulatory and Development Authority of India)

• MHA (Ministry of Home Affairs)

• DoT (Department of Telecommunications)

This committee decided to create a secure communication channel to combat fraud, in line with the Telecom Commercial Communication Customer Preference Regulation, 2018.

What’s Next for Users and Institutions?

• Banks and insurance providers are currently obtaining and deploying these numbers.

• TRAI has advised all regulatory bodies to ensure BFSI entities under their jurisdiction adopt the 1600 series as soon as possible.

• As adoption spreads, it will become easier for the general public to recognize genuine communication from financial institutions.

Key Benefits of the 1600 Series

• ✅ Prevents impersonation by scammers

• ✅ Boosts consumer confidence

• ✅ Simplifies call verification

• ✅ Encourages safe communication practices