What Is Bank.in? All You Need To Know About Exclusive Domain Announced by RBI To Fight Financial Fraud
The Reserve Bank of India (RBI) has launched bank.in, a dedicated internet domain for banks, to counter increasing cyber fraud in the country. The initiative, announced by RBI Governor Sanjay Malhotra during his first Monetary Policy Committee (MPC) meeting, aims to help customers identify genuine banking websites and avoid scams.
New Delhi, February 7: The Reserve Bank of India (RBI) has launched bank.in, a dedicated internet domain for banks, to counter increasing cyber fraud in the country. The initiative, announced by RBI Governor Sanjay Malhotra during his first Monetary Policy Committee (MPC) meeting, aims to help customers identify genuine banking websites and avoid scams.
Alongside this, RBI also introduced stricter authentication protocols for digital transactions, including an additional factor of authentication (AFA) for online international payments. India Can Certainly Achieve 7% Plus Growth Rate, Says RBI Governor Sanjay Malhotra (Watch Video).
What Is the Bank.in Domain?
The bank.in domain is an exclusive digital space for banks, created to enhance security and prevent phishing attacks. Many fraudulent websites mimic legitimate banking platforms, misleading customers into sharing sensitive information. By ensuring that only authorised banks operate under the bank.in domain, RBI seeks to provide users with a reliable way to verify banking websites. RBI MPC Meeting 2025: Reserve Bank of India Cuts Repo Rate by 25 Bps to 6.25%, a First in 5 Years.
The Institute for Development and Research in Banking Technology (IDRBT) will serve as the exclusive registrar for bank.in, managing registrations and ensuring compliance. Banks will receive detailed guidelines on integrating the new domain into their digital infrastructure.
RBI Governor Malhotra also revealed plans to introduce a fin.in domain for broader financial sector entities. He emphasized the urgent need for collective efforts from regulators, banks, and customers to tackle digital fraud.
To further enhance security, RBI is extending the Additional Factor of Authentication (AFA) to online international digital payments made to offshore merchants that support this mechanism. With rapid digitisation exposing the financial system to evolving cyber threats, RBI continues to implement robust measures to safeguard digital transactions and protect consumers from fraud.
(The above story first appeared on LatestLY on Feb 07, 2025 04:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).