RBI MPC meeting 2025: Banks to have ‘bank.in’ internet domain name, non-banks ‘fin.in’

In a pivotal move to bolster cybersecurity, the Reserve Bank of India (RBI) announced on Friday that Indian banks will soon have exclusive internet domain names, “bank.in.” This initiative aims to enhance trust in the financial sector, safeguarding against the escalating threat of digital fraud.

During the unveiling of the latest bi-monthly monetary policy for the fiscal year 2025, RBI Governor Sanjay Malhotra highlighted the increasing concerns over cybersecurity in digital payments. To address these issues, the RBI will commence registrations for the “bank.in” domain starting in April 2025, followed by the introduction of the “fin.in” domain for non-bank financial entities.

The primary goal of these new domains is to decrease cyber threats such as phishing and streamline secure financial services. The Institute for Development and Research in Banking Technology (IDRBT) will serve as the exclusive registrar for these domains.

Additionally, the RBI is enhancing security protocols by implementing an Additional Factor of Authentication (AFA) for cross-border “Card Not Present” transactions. This measure aims to provide the same level of safety for international card transactions as currently enjoyed by domestic transactions. A draft circular on the matter will be issued shortly for stakeholder feedback.

This strategic move underscores the RBI’s commitment to strengthening the digital infrastructure of India’s financial sector, ensuring secure and trusted banking and payment services in the evolving digital landscape.