Why does OTP come? What is the real function of this 6 digit number coming on the phone? What Is Otp Why Otp Is Important And How It Works Otp Kyu Aata Hai Photoshow

The full name of OTP is One-Time Password. This is a special code of some numbers or letters, which is valid only once and for a limited time. It is usually 4, 6 or 8 digits long and is sent via SMS, email or authenticator app.

The biggest purpose of OTP is to verify your identity and keep your account secure. Suppose someone finds out your password. If login was done only with password, then he could easily enter your account. But when OTP comes, he will also need access to your mobile or email. This extra security makes your account more secure. For this reason, banks, UPI apps, e-commerce websites and social media platforms use OTP.

When we do any important work, like login to bank account, online payment, creating a new password, changing mobile number, adding a new device, the system generates a unique OTP and sends it to your registered mobile number or email. If you enter the correct OTP, the system assumes that the correct person is doing the work. Only after this the process is completed.

OTP automatically becomes useless after a few minutes. This is done for security purposes. If OTP remains valid for a long time, someone else can misuse it. Therefore most OTPs can be used within just 30 seconds to 10 minutes.

Banks and cyber security agencies often say – never share OTP with anyone. If someone knows your OTP, he can hack your bank account, UPI, email or social media account. Nowadays, cyber fraudsters pose as bank officers, courier agents, CBI officers, custom officers or government employees and ask for OTP from people. Therefore OTP should not be disclosed to anyone.

OTP is a strong layer of security, but it alone cannot prevent every type of cyber attack. Therefore, strong password, double layer security (Two-Factor Authentication), use of official app and awareness are also important.

• More than 5.5 billion (550 crore) OTP SMS are sent every month in India. India is the largest OTP market in the world.
• Almost 90% of banks and fintech companies in India use SMS OTP as the default second security level (Two-Factor Authentication). That means OTP is the most important security layer in most digital banking transactions.
• Indian neobanks, digital lenders and fintech companies send more than 200 crore OTPs every month. These include OTP related to UPI, net banking, KYC, e-payment and online payment.
• According to statistics, OTP related frauds are the highest among cyber fraud cases in India. According to the report, OTP scams were responsible for one-fourth (more than 25%) of the total cyber fraud cases.

Content Source: Reserve Bank of India, Indian Computer Emergency Response Team, National Cyber ​​Crime Reporting Portal, GSM Association.