If you have an account with HDFC, SBI or ICICI bank, then you may have difficulty in getting OTP in the coming days. People visiting the bank in the coming week should keep in mind that the bank will be closed for 5 days from 30 March to 4 April. The Telecom Regulatory Authority of India (TRAI) on Friday released the names of 40 companies that failed to comply with the new SMS regulations. It also includes the names of SBI, HDFC, Kotak and ICICI.
TRAI made an announcement in which they issued a stringent rule stating that these companies would have to follow the instructions by April 1, 2021, else the customer would not receive the OTP on their registered mobile number or email ID with the bank Will find
In fact, in order to provide relief to people from idle and fraud SMS, TRAI (TRAI) has started the process to ban commercial messages. The primary objective of this initiative is to deliver appropriate messages to protect customers from being a victim of cyber crime.
On the other hand, many companies are not implementing TRAI orders effectively and their customers may have to bear the consequences in the coming months. TRAI said that it has been learned that major banks like State Bank of India, HDFC Bank, Punjab National Bank, Axis Bank Ltd. are not following the regulatory rules even after repeated warnings on mandatory parameters like Content Template ID, PE ID. .
As a result of the companies’ failure to follow its instructions, TRAI has taken stern action against them. The authority has warned all these defaulting firms that if they do not want their customers to have trouble receiving OTPs, they will have to comply with the order by April 1, 2021.
All regulatory bodies including Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory Development Authority and state and central government officials have been directed by TRAI to ensure that the regulations are followed within their regulation.
The rules of commercial messages are based on blockchain technology, which will prevent unwanted and fraudulent messages. Companies also have to register message headers and templates with the telecom operator.
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