Source: ET
Context:
The Reserve Bank of India (RBI) has received the “Initiative of the Year” award from Central Banking for launching the .bank.in domain, a dedicated internet domain for India’s banking sector.
What is .bank.in?
The .bank.in domain is a specialised and exclusive internet domain for banks in India, designed to strengthen the security of digital banking services.
India has become the first country in the world to mandate a dedicated domain exclusively for banks.
Objectives of the Initiative
The .bank.in domain aims to:
- Enhance cybersecurity in digital banking
- Reduce phishing and digital payment frauds
- Increase consumer trust in online banking
- Strengthen overall financial stability
