Special Internet Domain for banks and non -bank units – Special Internet Domain for Banks and Non Bank Units

The Reserve Bank of India (RBI) is introducing special internet domains for financial sector participants, including banking and non-banking institutions. Indian banks will have ‘Bank dot in’ domains, while non-bank institutions will have ‘Finn dot in’ domain. Registration for this will start from April this year.

RBI’s move to introduce special banking domains is being taken due to the need to prevent cyber security threats such as fishing attacks.

The RBI said in a statement, the purpose of this initiative is to reduce malicious activities such as cyber security hazards and fishing. Also, streamlining safe financial services is the objective so that confidence in digital banking and payment services increases.

The Institute for Development and Research in Banking Technology (IDRBT) will act as Special Registrar.

Forward contract in government securities

For the management of the risk of interest rate, the forward contracts will be started in government securities to expand the scope of products with interest rate derivatives to the participants of the market. This long -term investors such as insurance funds are being brought to help in managing risk on interest rates in various cycles. RBI Governor Sanjay Malhotra said these things.

First Published – February 8, 2025 | 11:41 am IST