RBI Launches ‘Bank.in’ & ‘Fin.in’ for Secure Digital Banking

In a major step towards improving cybersecurity and fostering trust in digital banking, the Reserve Bank of India (RBI) has revealed plans to introduce unique internet domain names for Indian banks and financial institutions. Indian banks will now use the domain ‘Bank.in’, while non-banking financial entities will be given ‘Fin.in’.

This initiative, announced by RBI Governor Sanjay Malhotra during the recent bi-monthly monetary policy meeting of the fiscal year, is designed to mitigate cyber threats, curb phishing attacks, and encourage secure financial transactions.

Why is RBI Introducing ‘Bank.in’ and ‘Fin.in’?

With the rapid growth of digital banking and online financial services, there has been a rise in cyber frauds, phishing attacks, and fake financial websites. Many fraudulent entities create fake banking websites to deceive customers and steal sensitive financial information.

To mitigate these risks, the RBI has decided to introduce exclusive domain names for financial institutions that will serve as a secure identity marker for customers and businesses.