The Reserve Bank of India (RBI).
Credit: Reuters File Photo
New Delhi: The Reserve Bank of India (RBI) on Tuesday directed all banks to migrate their internet domain to bank.in by October end this year that will help reduce the cyber security concerns.
bank.in domain will be reserved exclusively for banks. Other financial institutions will get a fin.in domain. “This initiative is aimed at strengthening the cybersecurity framework and enhancing public confidence in digital banking and payment systems,” the RBI said in a circular.
The Institute for Development and Research in Banking Technology (IDRBT) has been authorised by the National Internet Exchange of India (NIXI), under the aegis of the Ministry of Electronics and Information Technology to serve as the exclusive registrar for this domain.
Banks may contact IDRBT to initiate the registration process. IDRBT shall guide the banks on various aspects related to application process and migration to new domain, the RBI said.
“All banks are advised to commence the migration of their existing domains to the ‘.bank.in’ domain and complete the process at the earliest and in any case, not later than October 31, 2025,” it added.
In February monetary policy review RBI Governor Sanjay Malhotra had announced plans for exclusive domains for banks and other financial institutions. This initiative aims to reduce cyber security threats and malicious activities like phishing; and, streamline secure financial services, thereby enhancing trust in digital banking and payment services.