To avoid receiving fraudulent calls posing as your bank, be sure to check the number. The RBI has established a series for banking calls. Learn why numbers starting with 1600 are important and when to be cautious.
Nowadays, receiving calls from banks is nothing new. Banks call their customers to provide information about transactions, services, and other important information. However, cyber criminals often use this as an excuse to call people and try to obtain information related to their bank accounts. Therefore, it is very important to be cautious about calls that appear to be from banks.
The Reserve Bank of India (RBI) has directed banks and other regulated financial companies to use the 1600 series for service and transaction-related calls. This is intended to help customers distinguish between genuine and fraudulent calls and reduce financial fraud. Let's find out the difference between a fake call and a fake call number.
Why are numbers starting with 1600 special?
According to RBI guidelines, banks are required to use the 1600xx numbering series for service and transaction-related communications with customers. This means that if you receive such a call from your bank, the number may begin with 1600.
However, it's important to understand one thing: don't blindly trust a number just because it starts with 1600. Always verify your banking details before sharing any call.
If OTP and PIN are asked for, be careful immediately.
If the caller, claiming to be a bank official, asks you for OTP, ATM PIN, UPI PIN, CVV, password or complete card details, do not provide such information at all.
Banks generally won't ask for such confidential information over the phone. Cybercriminals often try to obtain information by intimidating people or pressuring them to act quickly. For example, someone may call you and say your bank account is about to be closed or that there's a problem with your card. They may then ask for your OTP or other information. In such a situation, there's no need to panic.
What to do if you receive a suspicious call?
If you suspect something is wrong with the call, hang up immediately. Then contact your bank through their official app, website, or the customer number listed on your debit/credit card. Remember, the 1600-series rule is an effort to make it easier for customers to identify calls, but your vigilance is paramount. Think twice before sharing your banking information with anyone you don't know.
