Migration to New Domain
The Reserve Bank of India (RBI) has issued a directive requiring all banks to migrate their existing domains to the exclusive “.bank.in” domain by October 31, 2025. This initiative aims to strengthen cybersecurity, reduce fraud risks, and enhance trust in digital banking.
For Non-Banking Financial Companies(NBFCs)-domain ‘.fin.in’
RBI is also planning a separate domain, ‘.fin.in’, dedicated to non-banking financial institutions (NBFCs), fintech companies, and other financial service providers. This step is expected to create a secure and authenticated online environment for the broader financial sector.
Global Precedents
. In 2015, financial trade associations collaborated to launch the ‘.bank’ domain, managed by fTLD Registry Services. This exclusive domain is a safer online space for banks worldwide. RBI’s decision to introduce a similar domain for Indian banks is a measure to safeguard digital transactions in line with global trends.
Why RBI’s New Domain is a Big Win for Safe Online Banking
Fake websites and phishing scams have become alarmingly common, putting your friends, relatives, and acquaintances at risk of falling victim to digital fraud. To address this growing concern, the Reserve Bank of India (RBI) has implemented a significant safeguard: they are requiring all banks to transition to a new, more secure domain. The new domain will be reserved exclusively for banks.
This step aims to:
- Stop Phishing Scams: Fake websites pretending to be banks often trick people into sharing passwords or OTPs. With .bank.in, you’ll know a site is real because only RBI-approved banks can use it.
- Better Security: The new domain comes with advanced security features, like encrypted connections (SSL) and anti-hacking tools, to keep your data safe.
- Build Trust: A uniform .bank.in domain helps customers easily recognize legitimate banking sites, reducing confusion and fraud.
Implementation Process
The Institute for Development and Research in Banking Technology (IDRBT) has been designated as the exclusive registrar for the “.bank.in” domain. Banks must contact IDRBT to initiate the registration process and complete the migration before the deadline. The registration starts in April 25.
What’s Changing?
Banks in India will soon move their websites and emails to addresses ending with .bank.in (like bankname.bank.in). This replaces older domains like .com, .org, or .in. Only verified banks can use this domain, making it harder for scammers to create fake websites.
Impact on Customers
For customers, this transition means greater security when accessing banking services online. By ensuring that all legitimate banks operate under the new domain, RBI is making it easier for users to distinguish real banking websites from fraudulent ones
Final Thoughts
This directive marks a significant step in India’s digital banking evolution. By enforcing a secure domain structure, RBI is proactively addressing cybersecurity concerns and safeguarding millions of online banking users.
Now Banks must act swiftly to comply with the directive and ensure a smooth transition for their customers.
Whether this move will help curb online banking fraud? Let’s discuss in the comments!
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