RBI Launches "bank.in" Domain to Combat Digital Banking Scam

 

The Reserve Bank of India (RBI) has made the "bank.in" domain exclusive to all authorised banking institutions in India in an effort to strengthen digital banking security and shield customers from online banking fraud. This effort aims to minimise the rising threat of digital banking fraud by establishing a secure and verified online presence for the banks across the nation.

Due to the surge in online banking transactions, fraudsters have taken advantage of vulnerabilities by impersonating actual banks via phishing attacks, phoney banking websites, and fraudulent email campaigns. The only registrar for this will be the Institute for Development and Research in Banking Technology (IDRBT).

It is expected that domain registration will get underway in April 2025. By implementing an exclusive bank.in domain strategy, the RBI lowers the risk of financial fraud by ensuring that users can quickly recognise and trust legitimate banking websites.

Importance of “bank.in” domain in banking security

The increased use of digital banking has transformed financial transactions in India, providing easy access to banking services. However, this digital transformation has resulted in an increase in cyber threats, with scammers creating fake banking portals to trick users into disclosing sensitive data such as login credentials, OTPs, and banking details. The RBI's special domain for banks called "bank.in" intends to: 

• Enhance banking fraud prevention by eliminating fake sites that pose as authentic banking portals. 
• Increase consumer trust and awareness by ensuring that all Indian banks use a single, verifiable domain structure.
• Strengthen India's digital banking security by creating a centralised domain that is challenging for fraudsters to replicate.

The "bank.in" domain will be reserved solely for RBI-regulated banking institutions, guaranteeing that only reputable financial institutions can use this domain extension. Each bank's official website will be hosted under the bank.in domain, making it easy for consumers to check legitimacy. For example, a major bank like State Bank of India (SBI) may have an official URL such as sbi.bank.in, indicating that the website is trustworthy. 

To facilitate this transition, the RBI is working with financial institutions, cybersecurity professionals, and domain regulatory agencies to ensure a smooth transition to the new domain. Banks will be expected to phase out their current domains and redirect consumers to their new "bank.in" addresses, ensuring a smooth transition and avoiding confusion.