TRAI Cautions Banks and Financial Institutions Against use of Unregistered Telemarketers - banks on 7 days notice !!

Finds Major Banks Such as Axis, Citi, HDFC, ICICI, Kotak Mahindra, PNB and SBI in Violation of Regulations  Puts These Banks on 7-Days Notice

The Telecom Regulatory Authority of India (TRAI) has cautioned banks and financial institutions against use of unregistered Telemarketers for promoting their business in violation of provisions of “The Telecom Commercial Communications Customer Preference (Thirteenth Amendment) Regulations, 2010”. The Authority said here today that despite actions taken by it, it continues to receive a large number of complaints from consumers against banks, insurance companies, builders, etc. for making calls/ SMSs organized through unregistered telemarketers. TRAI has said that such a behaviour of these banks and companies etc. is in violation of “The Telecom Commercial Communications Customer Preference (Thirteenth Amendment) Regulations, 2010”, which provides that in case complaints continue to come in, then on receipt of the 3rd complaint, all the telecom resources of the entity/organization shall be disconnected.

The Authority has taken the names of such banks and financial institutions which have been flouting the aforesaid regulation by marketing their products and services through unregistered telemarketers. These banks/ financial institutions are: (i) Axis Bank; (ii) Citi Bank; (iii) HDFC Bank; (iv) ICICI Bank; (v) Kotak Mahindra; (vi) PNB; and (vii) SBI. These have been directed to look into the specific cases of breach, initiate corrective action and report back to the Authority within a period of seven days, failing which the banks are liable to have all their telecom resources disconnected throughout the country.

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