Essentially, we need these to safeguard your Savings Account. 

They allow us – and our banking partner – to verify your phone number & SIM card. 

These permissions also help make UPI transactions more secure.

It's why the National Payments Corporation of India made it a mandatory requirement. 

And in case there's a new SIM used in your phone:

• Our protocol ensures that you automatically get logged out of Fi. 
• Then, we'll verify your identity before granting account access. 

This feature makes sure your Federal Bank Savings Account on the Fi app remains safe even in worst-case scenarios: like phone theft, etc.