TRAI Orders Phased Migration to ‘1600’ Number Series for BFSI Calls
The move targets call-based fraud by requiring regulated institutions to use a distinct caller ID series.
Overview
- Commercial banks must onboard by January 1, 2026, with large NBFCs, payments banks and small finance banks following by February 1, 2026.
- Mutual funds and asset managers, along with central recordkeeping agencies and pension fund managers, are due by February 15, 2026.
- Remaining NBFCs, co‑operative banks and regional rural banks must complete migration by March 1, 2026, and qualified stockbrokers by March 15, 2026.
- Deadlines for insurers will be set after consultations with IRDAI, while other SEBI‑registered intermediaries may migrate voluntarily for now.
- DoT assigned the series and telecom operators will allocate numbers, with TRAI noting about 485 entities already using more than 2,800 numbers after Joint Committee of Regulators consultations.