To check cyber frauds related to financial transactions and to stop them, the Reserve Bank of India (RBI) has announced a new domain -'fin.in'- for banks. This initiative is to make mobile and online baking safer and more reliable. Through this special domain, customers can easily verify real bank websites. "Banks to have exclusive domain name 'http://fin.in' to check cyber frauds, registration to start in April," said RBI Governor Sanjay Malhotra during the Monetary Policy Committee (MPC) meeting on Friday, February 7.
What Is 'fin.in'?
The registration process for the secure domain 'fin.in' will begin in April 2025. RBI governor Malhotra said that the move is part of a broader effort to enhance cybersecurity and financial fraud, which is currently on the rise. This will help bank customers use digital banking services securely.
RBI means that the individual can check the portal's authentication before making a financial transaction, whether the site is a Bank's site or a proxy website. This special domain will also help with two-factor authentication for international online transactions.
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Online banking users frequently receive fake messages with URLs claiming to avail personal loans by clicking on this link. In this case, one can verify by clicking on the link on 'fin.in' This will make it easier for individuals to differentiate between real and fake banking sites.
Check Points Below:
1. Check fake and real URLs - a genuine website of a bank will always have 'fin.in'
2. Safe digital banking - less risk of losing money via cyber fraud.
3. Online verification of fake websites - two-step verification process.