Bank Update: Alert! Customers of these banks may face issues with OTP from today, check full list

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Bank Update: Alert! Customers of these banks may face issues with OTP from today, check full list
Bank Update: Alert! Customers of these banks may face issues with OTP from today, check full list

To get rid of unwanted and fraudulent SMSes, TRAI has initiated a process to curb commercial messages.

Are you facing problems in receiving one time passwords (OTPs) from your bank? You’re not alone. The Telecom Regulatory Authority of India (TRAI) has adopted stringent measures to restrict ‘unsolicitated communications’.



To get rid of unwanted and fraudulent SMSes, TRAI has initiated a process to curb commercial messages, asking companies to register the SMS in a format with TRAI to reach customers. The aim of this move is to send the right message to the customers and save them from being a victim of any fraud. However, many companies are not taking this order of TRAI seriously, which their customers may have to bear the brunt.

TRAI has released a list of 40 such defaulting companies, which includes many big banks like HDFC Bank, SBI and ICICI Bank, Axis Bank. All these companies (principal entities) are not following the regulatory rules of bulk commercial SMS even after TRAI’s repeated warnings.

– A&A DUKAAN FINANCIAL SERVICES PRIVATE LIMITED- Angel Broking Limited- AXIS BANK LIMITED- BAJAJ FINANCE LIMITED- BANDHAN BANK LIMITED- BANKOFBARODA- BANKOFINDIA- Canara Bank- Central Bank of India- Dakshin Haryana Bijli Vitran Nigam Limited- Delhivery Private Limited- FEDERAL BANK- Flipkart Internet Pvt. Ltd.- Freecharge Payment Technologies Private Limited- HDFC BANK LIMITED- ICICI BANK LIMITED- IDBI BANK LIMITED- IDFC FIRST BANK LIMITED- IndiabulIs Consumer Finance limited- INDIAN OVERSEAS BANK- INSTAKART SERVICES PRIVATE LIMITED- Kotak Mahindra Bank Ltd- Kotak Securities Limited- LIFE INSURANCE CORPORATION OF INDIA- MEDLIFE WELLNESS RETAIL PRIVATE LIMITED- National Stock Exchange of India Limited- PSI PHI GLOBAL SOLUTIONS PRIVATE LIMITED- PUNJAB NATIONAL BANK- RAJASTHAN STATE HEALTH SOCIETY- RBLBANKLIMITED- RELIANCE RETAIL LIMITED- SAMSUNG INDIA ELECTRONICS PRIVATE LIMITED- SBI Cards and Payment Services Limited- STATE BANK OF INDIA- Supermarket Grocery Supplied Private Limited- TATA AlA LIFE INSURANCE COMPANY LIMITED- UNION BANK OF INDIA- VEDANTU INNOVATIONS PRIVATE LIMITED- WOPLIN BLOCKCHAIN TECHNOLOGIES- Yes Bank Ltd



TRAI has said that a lot of opportunities have been given to principal entities/telemarketers, and customers can no longer be kept away from the benefits they should get. Therefore, it has been decided that from April 1, 2021, if any message fails in the ‘Scrubbing Process’ due to not meeting the regulatory requirements, then it will be rejected from the system.

 

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