- The Bank of the India Reserve is launching new domains .bank.in and .fin.in
- They will demonstrate the authenticity of a bank website
- Digital fraud is increasing in the country
The Central Bank of India, the Bank of the Reserve of India (RBI), will introduce a domain. Bank.in ‘in April 2025 to combat digital fraud (through PakGazette).
The governor of the Central Bank warned the lenders against increasing fraud instances in digital payments: the new domain of the safe website is expected to eliminate the doubtful financial activity by demonstrating authenticity.
In addition, a separate domain.
Indian bank domains launched to address fraud
The governor confirmed that the Institute for Development and Research in Banking Technology (IDRBT) will be the only domain registrar for the new domains .bank.in and .fin.in, imposing strict controls on who can register them.
Updated domains will help users to differentiate between legitimate and fraudulent banking websites. The governor of RBI, Sanjay Malhotra, said that the initiative would also help reduce cyber threats such as Phishing attacks, with which India has been fighting more than ever.
Scammers generally use slightly different domain names that may resemble legitimate ones, therefore, having an exclusive set of trusted domains will help strengthen security. That said, the threat actors could still use “type of mecanoquatization”, such as exchanging the letter “I” for a “L”, so that clients of the Indian bank must still take this into account when verifying the domain In your address bar.
Other security measures used by the financial sector of India include the additional authentication factor (AFA) for national digital payments.
Malhotra summed up: “The increase in digital fraud is a subject of concern, justifying the action of all interested parties.”
Detailed guidelines on new domains are established separately by the RBI.
