RBI announces exclusive internet domain ‘bank.in’ for Indian banks

STC NEWS MONITORING DESK
FEBRUARY 07 (STC): Aimed to curb the financial fraud, an exclusive ‘bank.in’ internet domain has been announced by the RBI for Indian banks. Besides, stricter authentication protocols for digital transactions were introduced as part of the Monetary Policy announcement today.
“The Reserve Bank shall implement the bank.in exclusive Internet domain for Indian banks. The initiative will take effect from April 2025. The move aims to help customers differentiate between legitimate banking websites and fraudulent ones. Additionally, a ‘.fin.in’ domain will be introduced for the broader financial sector,” RBI Governor Sanjay Malhotra said.

The RBI Governor called for collective action from all stakeholders. “The surge in digital fraud is a matter of concern. It warrants action by all stakeholders. The Reserve Bank has been taking various measures to enhance digital security in the banking and payment system,” Malhotra said.
To strengthen security further, the RBI is going to extend the additional factor of authentication for digital payments to online international transactions involving offshore merchants. (STC)