The Reserve Bank of India (RBI) has taken a significant step toward enhancing cybersecurity in the banking sector by deciding to operationalise the exclusive .bank.in internet domain for Indian banks. This move aims to tackle the rising issues of digital payment fraud effectively.
So, what is special about the .bank.in domain? It is designed to be a secure and easy-to-remember, India-specific internet domain that will help in minimising cybersecurity threats faced by banks.
All banks are required to complete their migration to the .bank.in domain by October 31, 2025. This deadline is crucial for ensuring that all banking operations transition smoothly to the new domain.
The management of the .bank.in domain will be undertaken by the Institute for Development and Research in Banking Technology (IDRBT), which has been authorised by the National Internet Exchange of India (NIXI).
But what exactly is NIXI? It is a not-for-profit organisation that plays a pivotal role in routing internet traffic within India, which enhances speed and reduces bandwidth costs for users across the nation.
The .in domain is significant as it represents India’s Country Code Top Level Domain (ccTLD), which emphasises a national identity on the internet. This enhances trust and recognition among users.
Will banks immediately stop using their old domains? The answer is no. During the transition period, banks will operate both their existing domains and the new .bank.in domains. This dual operation will ensure that customers are not inconvenienced during the migration process.
Once banks migrate to the .bank.in domain, how will customers know that a bank website is genuine? Customers should verify that the website domain concludes with .bank.in. Additionally, emails from banks should originate from a .bank.in domain to further assure customers of their authenticity.
This initiative by the RBI marks a proactive approach to safeguarding digital banking in India and restoring consumer confidence in online transactions.
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