TRAI Cracks Down on Fraud Calls with Financial Sector Collaboration

The Telecom Regulatory Authority of India (TRAI) discussed measures to combat spam and fraud calls with representatives from the banking and financial services sectors. They proposed exclusive transactional call series and digital consent facilities to curb the issue. Relevant stakeholders pledged their cooperation for timely implementation.

In a significant move to combat the rising menace of spam and fraud calls, the Telecom Regulatory Authority of India (TRAI) held discussions with key players from the banking and financial services sectors. During the meeting, which took place on Friday, TRAI emphasized the urgent need for collaborative efforts to identify and mitigate spam, particularly through voice calls. Representatives from banks, financial institutions, and regulatory bodies assured full cooperation.

The telecom regulator outlined measures, including the allocation of the 160 series for exclusive use in transactional and service voice calls by entities regulated by RBI, Sebi, Irdai, and PFRDA. This initiative aims to simplify the identification of legitimate callers and protect consumers from fraud. Additionally, the movement of the 140 series for promotional purposes to the DLT platform was discussed.

Representatives from RBI, Sebi, Irdai, and more than 25 banks and financial institutions attended the meeting. The deliberations also covered the Digital Consent Facility (DCA) and associated regulations. The role and responsibilities of senders, including banks and insurance companies, in adhering to TRAI regulations were also a key focus.

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