India Introduces Exclusive Domains for Banks

RBI Mandates ‘bank.in’ Domain for Enhanced Cybersecurity

Highlights:

1. ‘bank.in’ Domain: All Indian banks must use ‘bank.in’ starting April 2025.
2. ‘fin.in’ for Non-Banks: Non-banking financial entities will use ‘fin.in’.
3. Additional Security Measures: Implementation of Additional Factor of Authentication (AFA) for international transactions.

Summarized Story:

The Reserve Bank of India (RBI) has announced the introduction of exclusive internet domains to enhance cybersecurity in the financial sector. Starting April 2025, all Indian banks will be required to operate under the ‘bank.in’ domain, while non-banking financial entities will use ‘fin.in’.

This move aims to reduce cyber threats, such as phishing attacks, and ensure secure financial services. Additionally, the RBI has proposed implementing Additional Factor of Authentication (AFA) for international card-not-present transactions to further secure digital payments.