RBI Introduces Exclusive Domains to Combat Digital Payment Fraud

The Reserve Bank of India will launch 'bank.in' for banks and 'fin.in' for non-bank financial entities to enhance online security starting April 2025.

• The Reserve Bank of India (RBI) announced the creation of exclusive internet domains 'bank.in' for banks and 'fin.in' for non-bank financial institutions to curb digital payment fraud.
• The initiative aims to address rising cyber security concerns, including phishing attacks and fraudulent websites impersonating legitimate financial entities.
• The Institute for Development and Research in Banking Technology (IDRBT) will serve as the exclusive registrar for these domains, with registrations beginning in April 2025.
• RBI Governor Sanjay Malhotra emphasized the importance of bolstering trust and security in the financial sector as digital transactions increase.
• An additional measure includes implementing an Additional Factor of Authentication (AFA) for international online card transactions to enhance security.

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