Hello Fam!
I hope that life is treating you well wherever you are in this part of the world.
Banks are financial institutions that we need to perform various transactions, which can be like transferring money to someone else or availing mortgage and loan products. For example, if we are going to avail loans for buying a home, car, or some other assets, then we need to get the financing through the bank. Banks are digital now, so we're able to perform almost everything from our home without visiting the physical branch, and it is convenient because for most of the services we get access to perform them online. The technology has evolved a lot over the last decade, which is why now we are able to do a lot more online, and banking is one of the segments that has been transformed amazingly.
Indian banks are regulated by a government body called RBI which is Reserve Bank of India. This government body has asked all the banks to follow the updated domain for their websites to bring more safety and authenticity. Now, banks need to switch to .bank.in domain to meet RBI’s cybersecurity deadline, and this is being done by RBI after lots of cyber scam events. Scammers try to follow different ways to cheat users, and hopefully, this new change makes a difference and improves the scenario.
I got the email from my bank, and that is when I got to know that they are making a change to their domain. I am generally pretty particular about the links that I click on, so I think this email notification is good for me to get an update about this domain change. Now, with the new domain, one can easily identify that it is a bank URL, and hopefully, this will be safer and will keep the users informed about the authentic link so that they will avoid clicking on the links that are fake.
Cyber fraud is on the rise, and it is very important for us as users to stay careful and vigilant. Even if you're not using the bank account online then also you still need to be careful because sometimes you get links through WhatsApp or other social media platforms, and clicking on that might hack your phone or steal some important information from your phone or laptop, whatever device you use. It is never suggested to click on the link received from an unknown person, and even on Discord, we get a lot of such links. I never entertain any message coming from an unknown person on Discord, but I know it is happening a lot, and we need to be careful.
This domain change is applicable for all the banks in India so some of the banks have implemented it already and some of them are in process to get it done however October 31 is the last day so hopefully there will be no extension on this update and by today itself all the banks will be able to move to the new URL suggested by the RBI. as a user we are not required to do anything but we need to be updated about this change so that we know what we are clicking on or whatever you are URL we are accessing for performing banking transactions.
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Image courtesy- All images are clicked through my mobile camera.