Reserve Bank of India: In the meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) today, Governor Sanjay Malhotra announced the launch of a separate internet domain for banks.
This decision was taken keeping in mind the increasing cases of fraud in digital payments. To deal with cyber fraud, RBI decided to launch an exclusive internet domain ‘ bank.in ‘ for Indian banks.
Financial services will get more security
The purpose of starting a separate internet for banks is to provide security to financial services while reducing malicious activities like cyber fraud and phishing. So that more and more people join digital banking and payment services and increase customer confidence in them. In this direction, the Institute for Development and Research in Banking Technology (IDRBT) will act as a special registrar. The registration process will start from April 2025. Detailed guidelines for banks will be issued separately. Going forward, a plan has also been made to have a separate domain named fin.in for other non-banking institutions in the financial sector.
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