RBI to Introduce '.bank.in' Domain to Strengthen Online Banking Security RBI will also introduce ".fin.in", a dedicated domain for non-banking financial companies (NBFCs) and other financial institutions
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The Reserve Bank of India (RBI) has announced the launch of a dedicated ".bank.in" domain for all Indian banks, aimed at reducing digital financial frauds and enhancing online banking security. Starting April 2025, all banks in India will be required to transition to this new domain, helping customers easily distinguish legitimate banking websites from fraudulent ones. The move is part of a broader effort to curb phishing scams and cyber threats, which have been on the rise in the digital finance ecosystem.
The announcement was made by RBI Governor Sanjay Malhotra during his first Monetary Policy Committee (MPC) meeting, where he highlighted the increasing risks associated with online banking frauds.
Stressing the need for a proactive approach to cybersecurity, Malhotra stated, "The rise in digital frauds is a serious concern, necessitating action from all stakeholders." The central bank believes that a standardized domain system will significantly reduce the risk of cybercriminals setting up fake websites to deceive customers.
Alongside the ".bank.in" domain, the RBI will also introduce ".fin.in", a dedicated domain for non-banking financial companies (NBFCs) and other financial institutions. This initiative extends the central bank's cybersecurity measures beyond traditional banks, ensuring that a wider spectrum of digital financial services remains protected. By implementing these domain-specific security measures, the RBI aims to create a more secure and trustworthy online banking environment for Indian consumers.
