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The Reserve Bank on Tuesday directed banks to start migration of their existing domains to the '.bank.in' domain and complete the process by October 31 this year, aimed at combating increasing instances of fraud in digital payments. In the wake of fraud in digital payments, the Reserve Bank of India (RBI) has decided to introduce the 'bank.in' exclusive internet domain for Indian banks. The initiative aims to reduce cybersecurity threats and malicious activities like phishing; and, streamline secure financial services, thereby enhancing trust in digital banking and payment services. "It has now been decided to operationalise the '.bank.in' domain for banks through the Institute for Development and Research in Banking Technology (IDRBT), which has been authorised by National Internet Exchange of India (NIXI), under the aegis of the Ministry of Electronics and Information Technology (MeitY), to serve as the exclusive registrar for this domain," it said in a statement. Banks may conta
The Delhi High Court on Friday cautioned domain name registrars (DNRs) against non-compliance of judicial orders and said if they want to do business in India, then they should follow its directions on taking action against those indulging in illegal activities online, or run the risk of being "blocked" by MEITY. A bench headed by Acting Chief Justice Manmohan said DNRs cannot "become instrument of syndicating scams" and called upon them to "remain vigilant" in the face of misuse of known trademarks to register websites to carry out illegal and fraudulent activities. "If you have to do business in India, we will lay guidelines and you have to comply. We will lay down a mechanism.. These (DNRs) people have to comply. We can't allow millions to be cheated. Some serious matter is going on here," said the bench, also comprising Justice Mini Pushkarna. The court observed that there was a huge magnitude of business in the country for DNRs who cannot be allowed to become "scam units". "We