RBI directs Banks to Shift to “.bank.in” Domains by October 31

The Reserve Bank of India (RBI) has directed all banks operating in India to migrate their primary internet domain to the ".bank" top-level domain (TLD) by October 31st of the current year. This directive is aimed at enhancing the security and trust associated with online banking activities. The ".bank" domain is a restricted domain space, exclusively available to verified financial institutions, providing an additional layer of authentication and making it easier for customers to identify legitimate banking websites. This migration is expected to reduce the risk of phishing attacks and other online frauds targeting bank customers, thereby strengthening the overall security of the digital banking ecosystem in India. Banks will need to undertake necessary technical and procedural changes to comply with this RBI mandate within the specified timeframe.