In a significant step towards bolstering investor safety and curbing financial fraud, the Securities and Exchange Board of India (SEBI) has introduced a new guideline that could change how investors recognize legitimate calls. Effective immediately, SEBI has advised all its regulated and registered entities to use a dedicated ‘1600’ phone number series exclusively for service and transactional voice calls to their existing customers.
This move follows the Telecom Regulatory Authority of India’s (TRAI) latest regulations, aimed at bringing greater transparency to telecom communications and reducing instances of financial fraud conducted via spoofed or misleading phone calls. By mandating that only the ‘1600’ number series be used for such calls, SEBI hopes to create a clear, recognizable identifier that investors can trust.
Why the ‘1600’ Series Matters
The financial sector has seen a rise in fraudulent calls, often made using regular 10-digit mobile numbers. These calls frequently impersonate banks, brokerages, or other financial institutions to deceive unsuspecting investors. By shifting to the dedicated ‘1600’ series, SEBI-regulated entities will be more easily identifiable, helping investors distinguish between legitimate communication and potential scams.
This simple, yet powerful change empowers investors to make informed decisions about which calls to answer and engage with. No longer will they need to second-guess if a transactional or service call from their stockbroker, depository, or mutual fund is genuine.
What Investors Should Do
Investors should start familiarizing themselves with the ‘1600’ number series. Any legitimate service or transactional call from a SEBI-registered entity—be it a reminder about a trade, a KYC update, or a transaction confirmation—will now originate from this series.
If you receive a call claiming to be from a financial institution but it does not come from a ‘1600’ number, treat it with caution. Do not share sensitive information such as OTPs, account credentials, or personal financial details unless you’re absolutely certain of the caller’s identity.
Reporting Suspicious Activity
In line with this initiative, SEBI and other government agencies have provided multiple avenues for investors to report suspicious or fraudulent communications
For Spam or Unsolicited Commercial Communication (UCC):
- Use your telecom provider’s app or website (e.g., Airtel, Jio, Vi, MTNL, BSNL) to file a complaint.
- Alternatively, use the TRAI DND app or dial/SMS 1909.
To Report Suspected Fraud Communication, visit the Chakshu Platform by the Department of Telecommunications at https://sancharsaathi.gov.in/sfc/. If You’ve Already Been a Victim of Fraud, Call the Cyber Crime helpline at 1930 or file a report online at www.cybercrime.gov.in.
