India’s central bank is set to launch a new domain, “.bank.in,” specifically for banks in April 2025. This initiative aims to tackle the rising issue of digital payment fraud and enhance trust in online banking services. The Institute for Development and Research in Banking Technology (IDRBT) will act as the exclusive registrar for this domain, according to a statement from the Reserve Bank of India (RBI).
RBI Governor Sanjay Malhotra expressed that the increase in digital payment fraud is alarming. The new domain system is designed to mitigate cybersecurity threats and reduce phishing scams. Additionally, a “fin.in” domain will be introduced for non-bank financial institutions. Detailed guidelines for banks will follow, helping users identify legitimate banking sites from fraudulent ones.
