The new SIM card regulations, which are intended to combat internet frauds such as SIM swap scams and phony SIMs, are scheduled to go into effect on December 1, 2023. They concentrate especially on the new SIM card issuance. October 1, 2023 was the original date of schedule, but the implementation is now two months later.
What is E-KYC and how does it affect the issuing of SIM cards?
It is now necessary to complete digital KYC, also known as e-KYC (Electronic Know Your Customer), in order to receive new SIM cards or reissue SIMs for existing numbers. This implies that it is no longer sufficient to just present a copy of your ID as proof.
Does the issuance of SIM cards in bulk have any restrictions?
Yes, issuing SIM cards in bulk is restricted under the new regulations. Regular consumers can only purchase up to nine SIMs on a single ID, however companies can still purchase SIMs in bulk.
How long must pass before inactive SIM cards can be reissued?
SIM cards that have been deactivated are not reissued for ninety days. As a result, customers have plenty of time to reactivate their SIM cards without having to worry about the number being assigned to someone else.
Who will be able to provide SIM cards as of December 1, 2023?
Only authorized dealers will be able to provide SIM cards to clients as of December 1, 2023. People have to go through a thorough verification process in order to confirm this.
What steps will telecom companies take to stop the issue of SIM cards without authorization?
Franchisees, wholesalers, and point-of-sale (PoS) agents will need to be registered by telecom providers in order to stop SIM cards from being issued to questionable people.
What consequences could someone get for issuing an unauthorized SIM card?
Issuing SIM cards without completing the necessary registration could result in fines of up to Rs 10 lakh. It emphasizes how crucial it is to follow the new rules in order to stay out of trouble with the law.
