RBI to introduce secure domain names to combat digital payment fraud
The IDRBT will manage domain registrations, starting in April 2025.
India‘s central bank has raised concerns over the increasing fraud in digital payments and announced new measures to improve security. Reserve Bank of India (RBI) Governor Sanjay Malhotra warned that cyber fraud and data breaches are becoming more frequent as banks and consumers adopt new technology. To counter this, the RBI will introduce exclusive website domain names to reduce the risk of deceptive online practices.
Fraudsters often use misleading domain names to trick users into revealing sensitive information or making fraudulent transactions. To enhance online security and credibility, the RBI will launch dedicated domains for financial institutions. Banks will use ‘bank.in’ while non-bank financial entities will operate under ‘fin.in’. These exclusive domains will provide a unique digital identity, making it easier for users to recognise legitimate platforms.
The Institute for Development and Research in Banking Technology (IDRBT) will oversee the registration process for these domains, with actual registrations set to begin in April 2025. The initiative is part of the RBI’s broader effort to strengthen cybersecurity and protect consumers in the rapidly growing digital payments sector.
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