In an increasingly digital world, financial cybercrime continues to be a growing threat. With phishing, brand abuse, and fraud on the rise, the Reserve Bank of India (RBI) has taken a bold step to protect the BFSI (Banking, Financial Services, and Insurance) sector from such threats. The introduction of ‘bank.in’ and ‘fin.in’ domains is a game-changer in securing financial transactions and strengthening trust in digital banking and payment services.

Set to open for registration in April 2025, these exclusive domains are not just a new feature for Indian financial institutions. They represent a strategic initiative by the RBI to improve the security posture of BFSI organizations and mitigate the risks of email-based attacks. But while these domains will help combat fraud, they are not a panacea. It’s crucial that financial institutions fully embrace advanced email authentication protocols like DMARC to safeguard their email ecosystem.

Why Has the RBI Introduced ‘bank.in’ & ‘fin.in’?

The RBI’s primary goal with these exclusive domains is to reduce cybersecurity threats and streamline secure financial services. As cybercriminals continue to exploit weak email systems to carry out phishing attacks, spoofing, and brand impersonation, having a trusted, RBI-verified domain becomes crucial.

The domains will allow financial institutions to operate on a secure, regulated platform, reducing the chances of email-based fraud that often targets unsuspecting consumers. By implementing the ‘bank.in’ and ‘fin.in’ domains, organizations can provide their customers with greater confidence in online banking, contributing to a more secure digital financial ecosystem. However, simply adopting these domains won’t be enough to eliminate all risks—proper email authentication must also be put in place.

What Does This Mean for BFSI Organizations?

As part of this shift, BFSI organizations will need to transition their email infrastructure to accommodate these new domains. Email migration isn’t just about a technical change—it’s about ensuring security across your entire email ecosystem. Here’s what it means for your organization:

1. Domain Migration and Configuration – The move to ‘bank.in’ or ‘fin.in’ will require a smooth, well-planned migration of your existing email setup. This could disrupt email traffic if not carefully handled.
2. Ensuring Compliance with Email Security Protocols – Email-based attacks like phishing and brand impersonation thrive when organizations don’t implement proper email authentication standards. Adopting DMARC, SPF, and DKIM policies will be essential to ensure emails from these new domains are properly authenticated.
3. Third-Party Sender Compliance – With third-party services like CRMs, email marketing platforms, and payment gateways involved in your email processes, ensuring they are compliant with DMARC is vital. Any non-compliant third-party senders can become a potential vector for attack.
4. Legacy Domain Security – Don’t overlook your old domains. Without a strict DMARC policy, they remain a gold mine for fraudsters who can continue exploiting them for phishing and other malicious activities.

The Role of DMARC in Mitigating Risk

While the RBI’s introduction of these exclusive domains is a significant step forward, it does not fully address the risk of email spoofing and other malicious activities unless paired with robust email authentication protocols. That’s where DMARC (Domain-based Message Authentication, Reporting, and Conformance) comes in.

DMARC provides organizations with the ability to:

• Authenticate outgoing emails, ensuring that only authorized senders can send emails from your domain.
• Protect against domain spoofing, where attackers impersonate your brand to send fraudulent emails to your customers.
• Monitor email traffic to identify potential threats, providing real-time insights into who’s sending emails on your behalf.

Implementing DMARC, along with SPF and DKIM, ensures that emails from your domain are legitimate and compliant with the new Google and Yahoo bulk sender policies (also Microsoft’s New Bulk Sender Requirements) These policies mandate DMARC alignment for bulk emails, and failure to comply can result in emails being blocked or sent to the spam folder.

Challenges for BFSI Organizations: Email Migration and Compliance

The migration to new ‘bank.in’ and ‘fin.in’ domains may sound straightforward, but there are multiple challenges that organizations will face:

1. Smooth Migration of Email Traffic – Switching to a new domain can cause service disruptions if not carefully planned and executed. You need to ensure that your email delivery is uninterrupted during the transition.
2. Ensuring Third-Party Compliance – If your organization relies on third-party senders (e.g., marketing automation tools, customer relationship management systems), these platforms need to be properly configured with DMARC-compliant settings. Non-compliant third-party emails can still be spoofed, leading to potential security vulnerabilities.
3. Old Domain Security – Legacy domains must be secured with strict DMARC policies to prevent fraudsters from continuing to exploit them for phishing and other malicious activities.
4. Meeting Regulatory Standards – RBI, IRDAI, and other regulatory bodies are increasingly enforcing email authentication protocols for BFSI organizations. It’s critical to remain compliant with these guidelines to avoid penalties.

How ProDMARC Can Help

ProDMARC simplifies the process of implementing DMARC and helps you manage email security across both new and old domains. Here’s how ProDMARC can assist your organization:

• Visibility & Insights – Gain complete visibility into your email traffic with actionable insights that help you detect and mitigate threats.
• Third-Party Monitoring – ProDMARC ensures that all third-party senders are properly configured to comply with DMARC, protecting your brand from being exploited.
• Seamless Domain Migration – We help you navigate the complexities of domain migration, ensuring your email infrastructure stays secure throughout the transition.
• Compliance Monitoring – ProDMARC keeps you compliant with regulatory standards like RBI, IRDAI, and global email security requirements.
• Phishing Protection – Ensure your domains are protected from phishing attacks with strict DMARC policies that reject fraudulent emails.

Conclusion: Future-Proof Your Email Security

As BFSI organizations prepare to adopt the new ‘bank.in’ and ‘fin.in’ domains, ensuring email security is non-negotiable. A comprehensive email authentication strategy, backed by DMARC, SPF, and DKIM, will help mitigate the risks associated with email-based fraud and phishing attacks. With ProDMARC, your organization can ensure a seamless transition to the new domains while maintaining robust email security.

Stay ahead of cybercriminals and protect your organization’s email ecosystem from day one.

Ready to secure your email infrastructure? Contact us at info@progist.net or call us at +91-9820116312 / +91- 9819256263 for a consultation.