RBI Launches Secure Internet Domain ‘bank.in’ to Shield Indian Banks from Cyber Fraud

New Delhi: To fortify the Indian banking sector against cyber fraud, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced the launch of an exclusive internet domain, ‘bank.in’, for registered banks across the country.

The initiative aims to provide banks with a secure and credible digital identity, shielding customers from phishing scams and fraudulent websites.

The registration for ‘bank.in’ will begin in April 2025. Additionally, the RBI plans to introduce another dedicated domain, ‘fin.in’, in the future to cater to the broader financial sector, further enhancing digital security within the ecosystem.

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Strengthening Cyber Defenses in Banking

With rapid digital adoption, India’s banking and financial institutions are increasingly becoming targets of cyberattacks, phishing schemes, and financial frauds. The introduction of ‘bank.in’ is expected to significantly reduce the risk of fraudulent banking websites misusing public trust.

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Moreover, RBI is planning to extend Additional Factor of Authentication (AFA) for international digital payments made to offshore merchants that support this security feature. This move is designed to provide an extra layer of protection for customers conducting transactions across borders.

RBI’s intensified cybersecurity focus aligns with its broader commitment to safeguarding India’s digital banking ecosystem from sophisticated cyber threats emerging due to AI-driven frauds, deepfake scams, and evolving malware attacks.

Repo Rate Cut: First Reduction in Nearly Five Years

Alongside these cybersecurity initiatives, RBI has slashed the benchmark repo rate by 25 basis points (bps) to 6.25%, marking the first reduction since 2019. The decision was announced at the conclusion of the Monetary Policy Committee (MPC) Meeting in February 2025.

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This rate cut is expected to bring relief to borrowers by making loans cheaper, boosting economic growth amid global economic uncertainties. The move follows a prolonged period of steady interest rates, with the last policy meeting in December 2024 witnessing a status quo decision, maintaining the repo rate at 6.50%.

Inflation Outlook for FY26

Governor Malhotra also shared the central bank’s outlook on inflation, forecasting it to remain at 4.2% for the financial year 2025-26. This projection aligns with RBI’s long-term objective of maintaining price stability while supporting economic expansion.

Review of Market Trading and Settlement Timings

In another significant move, RBI will conduct a comprehensive review of trading and settlement timings across markets regulated by the central bank. This assessment aims to optimize trading hours, enhance market efficiency, and align with global best practices in financial market operations.

A Multi-Pronged Approach to Financial Security

The RBI’s latest decisions reflect a multi-pronged strategy—focusing on both financial stability and cybersecurity. While the repo rate cut is expected to stimulate economic activity, the launch of ‘bank.in’ and ‘fin.in’ underscores RBI’s commitment to fortifying digital banking infrastructure in an era of increasing cyber threats.

With India witnessing a surge in online banking frauds, deepfake scams, and unauthorized digital transactions, the central bank’s proactive measures signal a stronger regulatory framework to protect the country’s financial ecosystem.

As digital transactions continue to rise, RBI’s cybersecurity initiatives will play a crucial role in ensuring a safe and resilient banking environment for millions of Indians.