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The registration for the new domain, ‘bank.in’, will commence in April. However, ‘fin.in’ will be rolled out after some time.
RBI Monetary Policy.
RBI Governor Sanjay Malhotra on Friday announced a new exclusive internet domain, ‘bank.in’, for Indian banks in order to protect them from cyber frauds. The registration for the new domain will commence in April. Later, the RBI will also roll out ‘fin.in’ for the non-banking financial sector.
Meanwhile, the RBI governor in conclusion of the MPC Meeting February 2025 announced to cut the benchmark rate ‘repo rate’ by 25 bps to 6.25 per cent. It is the first time in almost five years. Malhotra said inflation is projected to remain at 4.2% for FY26.
In the December policy meeting, the MPC decided to keep the interest rates unchanged to 6.50% with the committee voted 5-1 in favour of maintaining the status quo.
Moreover, RBI will undertake comprehensive review of trading and settlement timings of markets which are regulated by RBI.
RBI is taking several measures to protect the financial system of the country against the cyber threats and risks due to the rapid digitisation of the services. RBI is planning to extend AFA (Additional Factor of Authentication) to online international digital payments made to offshore merchants, who are enabled for such authentication.
