MUMBAI: With fraudsters having a field day in the market, financial sector regulators – the Reserve Bank of India (RBI) and the markets watchdog Sebi -- are taking additional measures to help prevent gullible banking customers and market investors from getting duped. While the RBI over the weekend has launched a ‘verified WhatsApp channel for public awareness,’ the Sebi on Tuesday launched a new ‘1600’ phone number series to combat fraud and enhance investor protection in the securities market.
It may be noted that the RBI has been conducting public awareness campaigns across various mediums such as text messages, television and digital advertisements under the ‘RBI Says’ initiative. The monetary authority has further expanded its outreach by adding a verified WhatsApp channel as an additional means to deliver public awareness messages.
"Through the verified 'Reserve Bank of India' account on WhatsApp, we aim to make important financial information more accessible to everyone, regardless of their geographical location. This initiative will ensure that vital information reaches people in a simple, direct, and effective manner, strengthening trust and resilience in our digital financial ecosystem,” the central bank has said on April 4.
The banking regulator has also added QR code to access this channel.
Meanwhile, the Sebi has launched a new number series with 1600 “to enhance investor protection and curb financial frauds.
Sebi has also advised its regulated/registered entities to comply with the latest guidelines by the Telecom Regulatory Authority. “Specifically, all regulated/registered entities are advised to only use the ‘1600’ phone number series exclusively for service and transactional voice calls to their existing customers,” Sebi said in a statement.
It has launched a special platform called the Chakshu Platform of Department of Telecommunications (https://sancharsaathi.gov.in/sfc/) to report any suspected fraud communication and if the fraud has already took place the public is advised to report the same to the Cyber Crime helpline number 1930 or website www.cybercrime.gov.in,m Sebi said.
Meanwhile, Sebi also launched its official X account.
SEBI launches Official X (formerly Twitter) account --@SEBI.
Henceforth, Sebi shall be posting notifications relating to regulations, orders, circulars, press releases etc., on its X handle apart from the website.
It can be noted that the RBI is already on the X, Instagram and other social media platforms.