Mumbai: Concerned over rising incidents of cyber frauds, the Reserve Bank of India (RBI) will soon ask banks to shift to chip-based automated teller machine (ATM) cards from the existing magnet strips ones and upgrade the currency vending machines, reports PTI.
The RBI working group on information security, electronic banking and technology risk management has also made a case for setting up special cells on banking frauds in the state police departments to deal with bank related cyber crimes.
"It is recommended that RBI may consider moving over to chip-based cards along with requiring upgradation of necessary infrastructure like ATMs/POS terminals in this regard in a phased manner," said the report of the working group headed by RBI executive director G Gopalakrishna.
While pitching for chip-based cards, the report said, it is difficult to copy and make their duplicates as compared to the existing magnet strips ones, which are currently used.
Besides, the working group has recommended widespread changes in the existing IT system of the Indian banking industry to make banking services more safe and secure.
"The Reserve Bank will begin implementing the recommendations of the working group shortly," the central bank said in a statement.
In case of online frauds where jurisdiction is not clear and there is ambiguity on where the police complaint should be filed, the working group has recommended setting up separate cell on bank fraud in police departments.
"The matter of having a separate cell working on bank frauds in each state police department, authorised to register complaints from banks and get the investigations done on the same, needs to be taken up with respective police departments," said the report.
It has also suggested that for debit or credit card transactions at the POS (point of sale) terminals, PIN-based authorisation should be put in place instead of the signature-based system.
The non-PIN based POS terminals, it added, should be withdrawn in a phased manner.
The RBI had set up the working group in April 2010 to suggest guidelines for banks covering the entire gamut of electronic banking.
On cloud computing, the report said security and legal issues on it are still evolving and "a bank needs to be cautious and carry out due diligence to assess the risks comprehensively before considering cloud computing."
Cloud computing, which is internet-based, facilitates software applications and other technological resources to be shared online.
The working group report added that given the nature of the problem of cyber security, engagement is required at a wider level both nationally and internationally, with the government, law enforcement agencies, various industrial associations and academic institutions.
The report found that most retail cyber frauds and electronic banking frauds would be of values less than Rs1 crore.
But "since these frauds are large in number and have the potential to reach large proportions, it is recommended that the special committee of the board be briefed separately on this to keep them aware of the proportions of the fraud and the steps taken by the bank to mitigate them," the report said.
The special committee should specifically monitor the progress of the mitigating steps taken by the bank in case of electronic frauds and the efficacy of the same in containing fraud numbers and values, it added.
The experience of controlling/preventing frauds in banks should be shared between banks on a regular basis, it added.
Mumbai: Market leader Reliance Industries (RIL) today announced a 28.14% growth in its net profit at Rs5,136 crore for the third quarter of the current financial year compared to Rs4,008 crore in the same period last year, reports PTI.
Net turnover of the Mukesh Ambani-led company increased to Rs59,789 crore from Rs56,856 crore in the corresponding quarter of the year-ago period, RIL said in a filing to the Bombay Stock Exchange (BSE).
The RIL scrip ended the day with a gain of 1.73% at Rs986.50 apiece on the BSE.
Do you still have some questions on mobile number portability? Click on our ‘Ask-A-Question’ module on the upper left corner of this website
Are there any conditions for MNP?
What is a UPC code?
UPC stands for unique portal code. The UPC code can be taken from your existing operator-Simply SMS "PORT <space> <10 digit mobile number which you wish to port> to 1900. UPC is an eight-digit code, which you will be required to provide to your new operator at the time of switching.
What are the charges for porting a number?
The charges are Rs19 (or less, depending on what your new operator wants to charge you). This is a non-refundable charge.
How long does it take to port a number?
The entire process of porting takes about six days. The exceptions are J&K, Assam & other states in the North-East, where it will take 10 days from the receipt of porting clearance from the donor operator (your existing operator).
Which documents must a prepaid/post-paid customer submit while making a porting request?
The customer will have to submit the same documents as any new customer. These include the MNP application form; a self-attested photograph and address proof of address, along with your signature. You will get the MNP form from any gallery or service centres of the new operator. In case you are a post-paid subscriber, you also have to submit a photocopy of the latest bill paid to your current service provider.
Can numbers be ported across circles?
No, porting is only available within a particular circle. This means that a subscriber from the Mumbai circle cannot port her number to, say, the New Delhi or Uttar Pradesh circles.
Can a landline number be ported?
No. Porting is allowed only between mobile numbers.
Will I get a new SIM card when I port my number?
Yes, you will get a fresh SIM card from the new operator, after the porting process is completed.
What will happen to the contacts and messages stored on my old SIM card?
You will have to back up the contacts and the messages stored on the old SIM card before making the porting request.
How long will I be without service while my existing SIM card is deactivated and my current SIM is activated?
The maximum period of 'No Service' is two hours, as defined by the regulator.
How will subscribers be informed about SIM activation/deactivation during porting?
Subscribers are intimated via an SMS about the date and time of porting. Your old SIM will be deactivated within one hour of the stated time of porting. Your new SIM card will be activated within two hours of the stated porting time.
Can a subscriber submit a porting request to more than one operator at the same time?
Yes. However, only the request that was made first will be cleared by the Mobile Clearing House.
If a subscriber ports to another operator and makes a call, which number will actually appear on the receiver's mobile phone?
The existing mobile number of the subscriber will appear on the receiver's mobile phone.
Can subscribers' numbers be ported without their permission?
No, subscribers' permission is essential. The recipient operator must verify all requests and validate supporting documents.
Can I decide the date and time on which the number will be ported?
No, you cannot dictate when the number should be ported. Upon receiving the porting request, the recipient operator will send it for processing. You will be informed once the porting validation is completed and the new SIM card is activated.
Can a number be ported more than once?
Yes, but only after completing at least 90 days (after activation) with the existing operator.
Can subscribers on CDMA networks port their numbers to GSM operators? And vice-versa?
Yes, they are only porting their number and not the service. However, for using a CDMA service, the subscriber needs to buy a compatible handset, as his GSM handset will not work on a CDMA network (and vice-versa).
Can a subscriber cancel a porting request? And how?
Yes. The subscriber can cancel the porting request by giving a request in writing to the new operator. Cancellations must be done within 24 hours of making the request.
How much time does it take to cancel a porting request?
It will take 24 hrs-within which the porting request can be cancelled.
Will subscribers get a refund of porting fees on cancelling the request?
No, the porting fees are instantly paid to the MNP service provider and cannot be refunded.
Will subscribers need to cancel their existing value-added services before porting?
No. Value-added services with the current operator will automatically be terminated once the number is successfully ported to the new operator.
Can subscribers still enjoy their existing value-added services during the porting process?
Yes they can, except for international roaming services, which the current operator may suspend during porting.
After porting, will subscribers enjoy the same services from the recipient operator?
No, subscribers can only port their number and not their value-added services. To enjoy uninterrupted value-added services, they will have to register for these while making a porting request with the recipient operator. That said, the recipient operator is not obliged to provide identical value-added services.
What will happen to my prepaid balance when I port my number to another operator?
The existing balance will expire upon successful porting and will not be carried forward.
Can subscribers who have selected a plan of their choice or will there be specific plans allocated to them?
Subscribers can select any plan which is available in the market at the time of porting.
Can subscribers continue to use their bundled/network-linked handsets after they switch over to another operator?
Yes, provided that the existing operators have disabled the 'network lock' on these handsets. Again, subscribers will have to discharge any contractual obligations on their bundled or network-linked handsets before making their porting request. Only then, the old operator will approve the porting request and disable the network lock on their handsets.
Do I need to apply for the National Do Not Disturb (DND) Registry after porting?
Yes, you can call the customer service centre and submit a request for DND service activation. In addition, you may opt for the same while filling up the subscription form. Subscribers who would like to register/de-register their request for DND registry may dial '1909' or SMS '1909' with keywords 'START DND' for registration and 'STOP DND' for de-registration.
Can subscribers retain their existing electronic clearing system (ECS) arrangements for paying bills automatically after porting?
No, subscribers will have to make fresh requests for ECS payments after porting to the new operator.
Where can subscribers find information about the status of their porting request?
Subscribers must track the status of their porting request with the donor operator till their existing SIM cards are active. After this, they must track the status with the recipient operator.
I have a prepaid number with a current operator; can I take a post-paid connection through mobile number portability?
Yes. You can.
I have paid my bills with my current operator till my last billing cycle-but I have an unbilled amount that will appear only in my next cycle. Do I have to make the pending payment before I switch to a new operator?
You will be required to make the pending payment once your previous service provider raises the bill. In case you do not pay the bill, you number might be disconnected.
When will I get the refund of my security deposit?
Ideally, you should get the refund as soon as you clear your dues. However, it depends on the service provider. The experience of subscribers from Haryana (remember, MNP was launched there first on 25th November?) is not good. It could take months before the deposit is refunded and that too if the consumer keeps pestering the company.
Can my mobile number portability request be rejected?
Yes. Your current service provider may reject the request if any of the eligibility criteria are not met.