RBI's Migration to ‘.bank.in’ Domain: Enhancing Digital Banking Security

What’s in Today’s Article?

• Migration to .bank.in Latest News
• Migration to ‘.bank.in’ Domain
• Current Domain Usage and Transition to ‘.bank.in’ Domain
• Rationale Behind the Domain Change
• Migration to .bank.in FAQ’s

Migration to .bank.in Latest News

• The Reserve Bank of India (RBI) has directed banks to migrate to the exclusive '.bank.in' domain by October 31, 2025, to combat rising digital payment frauds. 
• This move aims to enhance cybersecurity and strengthen trust in India's digital banking and payment services.

Migration to ‘.bank.in’ Domain

• The Reserve Bank of India (RBI) has operationalised the exclusive ‘.bank.in’ internet domain for Indian banks and directed all banks to migrate to it by October 31, 2025.
  • A domain name serves as a unique and easy-to-remember address for accessing websites on the internet. 
• This step aims to enhance cybersecurity and strengthen trust in digital banking services.

Implementation and Management

• The Institute for Development and Research in Banking Technology (IDRBT) has been authorised to act as the exclusive registrar for the ‘.bank.in’ domain. 
• The authorisation comes from the National Internet Exchange of India (NIXI), under the Ministry of Electronics and Information Technology (MeitY).
  • NIXI is a not-for-profit organisation set up to enable Internet Service Providers (ISPs) to route domestic internet traffic within India, improving service quality and reducing international bandwidth costs.

Significance of the ‘.IN’ Domain

• The ‘.IN’ domain is India’s Country Code Top Level Domain (ccTLD), symbolising national identity on the global internet.
  • A ccTLD is a two-letter code that represents a specific country or territory on the internet. 
  • It's used in a website's domain name to indicate the geographic location or affiliation of the website. 
  • Example - .us for the United States, .ca for Canada, and .in for India. 

Current Domain Usage and Transition to ‘.bank.in’ Domain

• At present, banks in India use generic domains like ‘.com’ or ‘.co.in’ for their websites.

Transition to ‘.bank.in’ Domain

• With RBI’s directive, all banks will migrate to the exclusive ‘.bank.in’ domain by October 31, 2025. 
• Until the full migration, banks will maintain both their old and new domains, with the old domain redirecting users to the new ‘.bank.in’ website.

Customer Guidance

• Post-migration, customers should verify that their bank’s website and any official emails end with ‘.bank.in’ to confirm authenticity and avoid fraud.

Rationale Behind the Domain Change

• The rapid digitalisation of financial services has increased exposure to cyber threats and digital risks, leading to a surge in sophisticated digital frauds. 
• These frauds pose reputational, operational, and business risks, and threaten financial stability by eroding customer trust.

RBI’s Response

• To combat rising frauds, the RBI announced the introduction of the exclusive ‘.bank.in’ internet domain for Indian banks during the February 2025 monetary policy.

Issues with Existing Domains

• Currently, anyone can register domain names with minor alterations (e.g., using "0" instead of "O"), making it hard for customers to distinguish real bank websites from fake ones, leading to phishing and fraud.

Advantages of the ‘.bank.in’ Domain

• Only RBI-regulated banks will be allowed to register under the ‘.bank.in’ domain, making it difficult for fraudsters to create fake banking websites. 
• This move will help reduce cyber threats, prevent phishing attacks, and enhance trust in digital banking and payment services.

Rising Digital Payment Frauds

• According to the RBI, during April–September 2024, internet and card frauds accounted for about 20% of the total amount involved and nearly 84% of the total number of fraud cases. 
• In the first half of FY24, India reported 18,461 banking frauds amounting to ₹21,367 crore. 
• Phishing attacks using fake banking websites were a major cause.

Strengthening India’s Digital Economy

• With a goal to become a $1 trillion digital economy by 2025 and $5.4–6.9 trillion by 2047, protecting digital transactions is crucial. 
• The RBI’s domain initiative supports secure digital growth and encourages financial inclusion.

Migration to .bank.in FAQ’s

Q1. Why are banks migrating to the ‘.bank.in’ domain?

Ans. To improve cybersecurity and combat rising digital payment frauds in India’s digital banking services.

Q2. When is the migration deadline for banks?

Ans. Banks must migrate to the ‘.bank.in’ domain by October 31, 2025, as per RBI's directive.

Q3. Who manages the ‘.bank.in’ domain?

Ans. The Institute for Development and Research in Banking Technology (IDRBT) manages the domain under NIXI’s authorization.

Q4. Why is the ‘.bank.in’ domain important?

Ans. It ensures only RBI-regulated banks can register, reducing fraudulent banking websites and enhancing customer trust.

Q5. What issues exist with current banking domains?

Ans. Fraudsters can register domains with minor alterations, making it hard for users to distinguish real bank websites from fake ones.

Source:  IE | BT