The Reserve Bank of India has taken a big step. RBI has made a great plan to prevent banking fraud. On 7 February 2025, RBI announced that a special internet domain for Indian banks would be 'Bank.in' and 'Fin.in' for non-bank financial institutions. RBI Governor Sanjay Malhotra said that the registration for 'Bank.in' will start from April 2025. After that 'Fin.in' will also be implemented. In the last few years, the incidents of fraud in digital payment have increased considerably. Let us know about it in detail.
This step will help reduce cyber security and fraud. This will increase trust in digital banking and payment services. The Institute for Development and Research in Banking Technology (IDRBT) will be appointed as Special Registrar of this domain. Apart from this, RBI has also decided for cross-border 'card not present' (CNP) transaction.
This security system is now mandatory for domestic transactions only. Soon it will also be implemented in international online transactions. RBI will soon issue a circular in this regard. This step will reduce the incidents of fraud in digital payment. In the last few years, the incidents of fraud have increased considerably. In such a situation, it is necessary that many more important steps should be taken from the RBI.
RBI announced that a special internet domain for Indian banks would be 'Bank.in' and 'Fin.in' for non-bank financial institutions. RBI Governor Sanjay Malhotra said that the registration for 'Bank.in' will start from April 2025. The Institute for Development and Research in Banking Technology (IDRBT) will be appointed as Special Registrar of this domain. On 7 February 2025, RBI announced and informed about this.
