RBI to introduce 'bank.in' and 'fin.in' domains to enhance payment security
New Delhi, Feb 7, 2025
This initiative aims to reduce cyber security threats and malicious activities like phishing; and, streamline secure financial services.
In order to bolster trust in digital banking and reduce fraud risks, the Reserve Bank of India (RBI) on Friday said it is launching exclusive internet domains—‘bank.in’ and ‘fin.in’—for Indian financial institutions. This initiative aims to tackle the rising instances of fraud and cyber security threats in the rapidly growing digital payment space, particularly phishing and other malicious activities that have compromised the safety of online transactions.
"Increased instances of fraud in digital payments are a significant concern. To combat the same, the Reserve Bank of India (RBI) is introducing the 'bank.in' exclusive Internet Domain for Indian banks. This initiative aims to reduce cyber security threats and malicious activities like phishing; and, streamline secure financial services, thereby enhancing trust in digital banking and payment services," the RBI said in a statement.
The 'bank.in' domain will be available exclusively to Indian banks, providing a secure and easily identifiable online presence for these institutions. This move is expected to streamline access to secure financial services and enhance customer confidence in digital banking.
The Institute for Development and Research in Banking Technology (IDRBT) has been designated as the exclusive registrar for these domains, and the actual registrations are set to begin in April 2025. In the future, a similar domain, ‘fin.in’, will be introduced for other non-bank entities in the financial sector, further promoting security and trust across the entire financial ecosystem.
Through these dedicated domains, the RBI seeks to make it easier for consumers to identify legitimate financial services and reduce the risks of cyber fraud. Detailed guidelines for banks regarding the new domains will be issued shortly, with the aim of creating a safer and more trustworthy digital environment for all users of banking and financial services in India.
[The Business Standard]
