Reserve Bank of India : RBI has Taken a Big Step to Prevent Online Fraud
The incidence of online fraud has increased significantly in the last few years. Cyber fraudsters are robbing people of their hard-earned wealth in various ways. In this case, RBI has taken various steps to prevent such incidents. However, this fraud could not be stopped. In this case, the Reserve Bank of India (RBI) has taken a big step to prevent online fraud.
RBI’s Big Steps to Prevent Banking Fraud
As per the apex bank’s announcement, there will now be a dedicated internet domain ‘bank.in’ for Indian banks. That means, now the official website of all registered Indian banks will be under the ‘bank.in’ domain. Similarly, non-banking financial companies, fintechs and other financial institutions will use fin.in.
RBI Governor Sanjay Malhotra said that the registration for ‘bank.in’ will start from April 2025. Later ‘fin.in’ will also be implemented. Currently it is mandatory only for domestic transactions. Soon it will be implemented for international online transactions as well. RBI will issue this circular soon.This step will reduce the incidence of fraud in digital payments.
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