What changed
RBI issued a circular on November 26, 2007, advising NBFCs to comply with TRAI's UCC regulations and DoT's telemarketer registration guidelines. NBFCs are advised not to engage telemarketers without a valid DoT registration certificate, to furnish a list of engaged telemarketers and their telephone numbers to TRAI, and to ensure all agents register with DoT as telemarketers.
What it means for you
NBFCs must overhaul their telemarketing compliance to avoid regulatory penalties. Engaging unregistered telemarketers is now prohibited, and NBFCs must actively scrub calling lists against the NDNC registry. This protects customer privacy and reduces complaints, but increases operational costs for compliance and agent verification.
What you must do
- Verify that all telemarketers (DSAs/DMAs) you engage hold a valid registration certificate from DoT.
- Submit a list of your telemarketers and their registered telephone numbers to TRAI as required.
- Ensure all existing agents register themselves with DoT as telemarketers immediately.
- Scrub your calling lists against the National Do Not Call Registry before making any telemarketing calls.
Who it affects
All Non-Banking Financial Companies (NBFCs), Direct Selling Agents (DSAs) and Direct Marketing Agents (DMAs) of NBFCs, Call centres and telemarketing operations of NBFCs
What is the National Do Not Call Registry?
It is a central database maintained by NIC containing phone numbers of subscribers who have opted out of unsolicited commercial communications. Telemarketers must scrub their calling lists against this registry before making calls.
Do NBFCs need to register themselves as telemarketers?
The source indicates that banks and their call centres, while registering as telemarketers, must provide details of telephone numbers used for telemarketing, and these instructions apply to NBFCs. However, the source does not explicitly state that NBFCs must register themselves; it advises NBFCs to ensure their agents register.
What happens if we engage an unregistered telemarketer?
RBI advises NBFCs not to engage telemarketers without a valid DoT registration certificate. Non-compliance may lead to regulatory action from RBI or DoT.