InfoSecBulletin Cybersecurity for mankind
India’s central bank to launch a special “.bank.in” domain for banks in April 2025 to fight digital payment fraud and enhance trust in online banking.
The Reserve Bank of India announced that the Institute for Development and Research in Banking Technology (IDRBT) will exclusively manage the new “fin.in” domain for non-bank financial institutions.
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“Increased instances of fraud in digital payments are a significant concern,” said RBI governor Sanjay Malhotra, adding that the new domain system aims to reduce cybersecurity threats and malicious activities like phishing. The move comes as India grapples with a surge in digital payment frauds and predatory lending apps.
The central bank will provide banks with guidelines for a new initiative aimed at helping users identify legitimate banking websites from fraudulent ones.
How the ‘.bank.in’ & ‘fin.in’ domain will work:
Starting April 2025, all approved Indian banks must use websites ending in ‘.bank.in’ to enhance customer security and help distinguish legitimate banking sites from fraudulent ones.
Indians lost Rs 485 crore to UPI fraud in 632,000 incidents during FY25 (up to September). From 2022-23, total UPI fraud losses reached Rs 2,145 crore in 2.7 million cases, with FY24 alone accounting for Rs 1,087 crore from 1.34 million incidents.
To tackle this fraud, the government has blocked over 669,000 SIM cards and 132,000 IMEIs, as well as 1,700 Skype IDs and 59,000 WhatsApp accounts. The Union Home Ministry reports saving more than Rs 3,431 crore from 994,000 complaints.
The RBI will implement extra verification for international digital transactions to offshore merchants to enhance consumer protection, reduce unauthorized payments, and prevent card fraud.
