RBI Introduces Internet Domains ‘bank.in’ For Banks, ‘fin.in’ For NBFCs
To enhance cybersecurity and reduce digital fraud, the Reserve Bank of India (RBI) is introducing exclusive internet domains for Indian banks and non-bank financial entities. The new domains are ‘bank.in’ for Indian banks and ‘fin.in’ for non-bank financial entities. RBI Governor Sanjay Malhotra announced that registration for ‘bank.in’ will commence in April 2025, with ‘fin.in’ to follow. The Institute for Development and Research in Banking Technology (IDRBT) has been designated as the exclusive registrar.
Objective The initiative seeks to strengthen trust in the financial sector and reduce cybersecurity risks and phishing attempts, ensuring secure financial services and boosting confidence in digital banking and payment systems.
Bank.in All registered Indian banks will have websites under the ‘bank.in’ domain to ensure authenticity, reduce phishing attacks, enhance cybersecurity, and increase customer trust in digital banking platforms.
Fin.in Non-banking financial companies (NBFCs), fintech firms, and other financial entities will be assigned the ‘fin.in’ domain. This will help distinguish legitimate financial firms from fraudulent websites and improve the security of financial transactions.
Additional Factor of Authentication (AFA) The RBI has also opted to implement Additional Factor of Authentication (AFA) for cross-border ‘Card Not Present’ transactions to enhance security.
Rising Cyber Threats The move is a response to the rise in cyber frauds, phishing attacks, and fake financial websites. Indians have lost significant amounts of money to UPI frauds, with losses amounting to ₹485 crore in 632,000 incidents during FY25 (until September 2024).
