New ‘.bank.in’ Domain to Curb Cyber Fraud, Launch in April

In a significant move to enhance cybersecurity and protect customers from online fraud, Indian banks will soon have a dedicated “.bank.in” domain for their websites. This initiative, set to roll out in April, aims to prevent fraudulent activities carried out through fake banking websites and phishing scams.

The Reserve Bank of India (RBI) has emphasized that this step will help ensure greater security for financial transactions, making it easier for customers to identify genuine bank websites from fraudulent ones.

Key Benefits of the .bank.in Domain
•    Enhanced security – Cybercriminals often create fake bank websites with similar names to deceive customers. The .bank.in domain will be exclusively reserved for legitimate banks, reducing the risk of fraud.
•    Easier identification for customers – Since all banks will use the same domain format, customers will be able to distinguish between real and fake banking websites more effectively.
•    Expansion to financial institutions – The RBI plans to extend this security feature to non-banking financial companies (NBFCs) and fintech firms in the future.

Why Is This Important?
Cybercrime, especially phishing and online fraud, has been on the rise. Scammers often use fake banking websites and email domains that look similar to legitimate banks, tricking users into sharing sensitive information. The introduction of a dedicated .bank.in domain will eliminate such risks by providing a single, verified domain name for banks.
The registration and management of the .bank.in domain will be handled by India’s official internet infrastructure providers to ensure strict compliance. The RBI has urged banks to complete their transition to this domain as soon as possible.

RBI’s Focus on Cybersecurity
RBI Governor Shaktikanta Das has stressed the need for stronger digital security measures, especially as India moves towards a more digitally-driven banking system. The central bank has also advised customers to be cautious while clicking on banking website links and always verify the domain name before making transactions.
With this initiative, India is taking a major step towards safer and more secure online banking while keeping cybercriminals at bay.