RBI to launch 'bank.in' and 'fin.in' domains to tackle cyber fraud from April 2025

The Reserve Bank of India (RBI) has announced the launch of two exclusive internet domains, ‘bank.in’ for Indian banks and ‘fin.in’ for non-bank financial institutions, to enhance cybersecurity in the financial sector and reduce online fraud. The Institute for Development and Research in Banking Technology (IDRBT) has been designated as the exclusive registrar for these domains. Registration for ‘bank.in’ will commence in April 2025, with ‘fin.in’ to be introduced subsequently.

According to RBI, this initiative is aimed at reducing phishing attacks, fraudulent banking websites, and unauthorized financial platforms by providing a secure and verified domain for banking and financial transactions. Governor Sanjay Malhotra stated, "To combat the same, the Reserve Bank of India (RBI) is introducing the 'bank.in' exclusive Internet Domain for Indian banks." This domain structure will enable users to distinguish official banking websites from fraudulent ones, ensuring safer digital transactions.

In addition to the domain system, RBI has also introduced an Additional Factor of Authentication (AFA) for international “Card Not Present” transactions. The security measure will apply to online transactions made using Indian-issued cards, provided overseas merchants support AFA. A draft circular will be released for stakeholder feedback before implementation. AFA is already mandatory for domestic digital transactions, and its extension to international payments is intended to reduce fraud in cross-border transactions.

RBI has also revised key monetary policy decisions, including a reduction in the benchmark repo rate by 25 basis points to 6.25%. This is the first interest rate cut since May 2020. The central bank has projected a GDP growth rate of 6.7% for the next financial year, compared to the 6.4% estimate for the current fiscal year. RBI also noted that household consumption is expected to remain strong, supported by tax relief measures introduced in the Union Budget 2025-26.

The introduction of ‘bank.in’ and ‘fin.in’ domains is part of RBI’s broader cybersecurity strategy to provide a standardized, authenticated digital identity for Indian banks and financial institutions. The measure is expected to streamline online banking security, safeguard consumers from cyber threats, and improve the overall reliability of digital financial services.