Customers Of SBI, ICICI, And HDFC Banks May Experience Trouble In OTP Generation Next Month Onwards

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Friyana Munshi

New Delhi, March 27, 2021: Bank customers may face trouble in the coming days. From March 27 to April 4, bank branches will be open merely for two days. Only 2 working days are seen in this period. Banks will be closed for three consecutive days on 27, 28, and 29 March in the entire country.

Banks will remain closed due to the fourth Saturday on March 27. Banks have a public holiday on Sunday, March 28. On March 29, there will be a holiday due to Holi. After this, banks will remain open on March 30, except in Patna zone. On March 31, being the last day of the financial year, services will not be available in the bank branches. On 1 April, due to account closing, services will not be available in the branches.

This is followed by the Good Friday holiday on 2 April. April 3 will be a working day and the next day due to Sunday it is again a holiday for the banks. In this way, banking services can be availed at branches only on March 30 and April 3, between March 27 and April 4.

At the same time, customers of big banks like HDFC Bank (HDFC Bank), State Bank of India (SBI), and ICICI Bank may have to face another problem next month onwards. According to the news agency PTI, the Telecom Regulatory Authority of India (TRAI) on Friday released a list of 40 ‘defaulters’ companies that are not meeting the regulatory norms for bulk commercial messages. These major units have been informed regarding the same many times by TRAI. These include HDFC Bank, State Bank of India and ICICI Bank.

TRAI has taken a tough stance on the issue, stating that the defaulting units will have to meet these rules by March 31, 2021. If not, their communication with customers may be interrupted from April 1, 2021.

“Major units/telemarketing companies have been given ample opportunity to meet regulatory requirements,” the regulator informed in a statement. “Consumers cannot be further denied regulatory benefits. In view of this, it has been decided that if a message from April 1 does not comply with the regulatory requirements, it will be stopped by the system.” the regulator further affirmed.

In fact, the regulator has initiated a process to curb commercial messages aimed at ridding customers of fraud SMS. The regulator has asked companies to register SMS with TRAI in a format so that the right message reaches the customers and they do not fall prey to any fraud. Many companies are not taking this order of the regulator seriously. The effect of this will be such that customers may have to bear the brunt of the negligence of the companies. Messages / OTPs etc. sent by such companies to customers can be rejected by the new system of TRAI next month onwards.