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The Reserve Bank of India (RBI) has announced the rollout of an exclusive ‘.bank.in’ internet domain for all Indian banks, aimed at preventing digital financial frauds. From April 2025, all Indian lenders will be required to migrate to this new domain to help customers distinguish legitimate banking websites from fraudulent ones.
The decision was announced by RBI Governor Sanjay Malhotra during his first Monetary Policy Committee (MPC) meeting on Friday, where he stressed the urgent need to strengthen cybersecurity measures amid increasing cases of phishing scams and online banking frauds.
“The surge in digital frauds is a matter of concern, warranting action by all stakeholders,” Malhotra said.
How the ‘.bank.in’ & 'fin.in' domain will work
From April 2025, all authorised Indian banks will be required to use websites ending in ‘.bank.in’, replacing existing domains. This change will make it easier for customers to identify legitimate banking platforms and reduce the risk of falling victim to fake websites created by cybercriminals.
The RBI will also launch a ‘fin.in’ domain for non-banking financial companies (NBFCs) and other financial institutions, further expanding its efforts to curb fraud across the digital finance ecosystem.
Cyber threats in India
India has witnessed a sharp rise in digital fraud cases, driven by the widespread use of online banking, UPI transactions, and mobile wallets. Cybercriminals often mimic legitimate bank websites to steal login credentials, card details, and personal information.
Governor Malhotra stressed that banks and NBFCs must continuously enhance their fraud detection systems, improve incident response mechanisms, and conduct regular security assessments to prevent financial scams.
Indians have lost Rs 485 crore alone to Unified Payments Interface (UPI) frauds in 632,000 incidents during FY25 (until September), data from the Ministry of Finance revealed at the end of 2024. Since 2022-23, UPI frauds have led to Rs 2,145 crore in losses across 2.7 million incidents. In FY24, 1.34 million cases caused Rs 1,087 crore in losses.
To combat fraud, the government has blocked over 669,000 SIM cards and 132,000 IMEIs. The Indian Cyber Crime Coordination Centre (I4C) has also blocked 1,700 Skype IDs and 59,000 WhatsApp accounts. The Union Home Ministry reports saving over Rs 3,431 crore from 994,000 complaints.
Additional security measures
To further protect consumers, the RBI will extend the additional factor of authentication (AFA) - a security feature that requires extra verification beyond passwords - to international digital transactions made to offshore merchants. This move aims to reduce unauthorised foreign payments and prevent card fraud.
Malhotra emphasised that digital security is now a top priority for the RBI, urging financial institutions to invest in advanced fraud detection tools and cybersecurity measures.
The RBI has assured that it will continue to monitor fraud trends and introduce further safeguards as needed to protect India’s fast-growing digital financial ecosystem.
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