India's central bank, the Reserve Bank of India (RBI), is rolling out a dedicated domain name for banks: '.bank.in'. Scheduled to launch in April 2025, the move aims to combat the increasing number of digital payment frauds plaguing the country's financial sector.

The Institute for Development and Research in Banking Technology (IDRBT) will serve as the exclusive registrar for the new domain. A separate ‘fin.in’ domain is also planned for non-bank financial institutions, expanding the scope of this security initiative.

"Increased instances of fraud in digital payments are a significant concern," said RBI Governor Sanjay Malhotra, noting that the new domain system is designed to mitigate cyber security threats and malicious activities such as phishing.

The RBI has repeatedly cautioned lenders about growing cybersecurity risks as Indian banks and consumers embrace new technologies. Fraudsters often exploit subtle differences in domain names to deceive victims into revealing sensitive information or making fraudulent transactions. The introduction of exclusive domain names establishes a unique online identity, bolstering recognition and credibility for legitimate financial entities.

The central bank will issue detailed guidelines to banks separately, clarifying the process and requirements for adopting the new domain. The initiative is designed to help users easily distinguish legitimate banking websites from fraudulent ones, adding an extra layer of security in the digital realm.