No bank has migrated to .bank.in domain despite RBI deadline

The Standing Committee on Home Affairs examined the current legal and administrative framework for preventing and investigating cybercrime in India. This matters to citizens as it addresses issues like financial fraud, data privacy, and the effectiveness of law enforcement in the digital space.

Ministry of Home Affairs, Ministry of Information and Technology, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Telecom Regulatory Authority of India (TRAI), and the general public affected by cyber frauds and digital security issues.

• The Committee recommended creating a comprehensive cybercrime legislation and an Integrated Cybercrime Task Force to address enforcement challenges caused by laws spread across multiple statutes.
• It recommended amending the IT Act, 2000 to impose harsher penalties, require IT intermediaries to compensate victims for harm due to inaction, and empower officers above Inspector rank to investigate cases.
• The Committee suggested amending the Delhi Special Police Establishment Act, 1946 to allow the CBI to investigate cybercrime cases without state consent, noting that withdrawal of consent by several states has hindered investigations.
• It recommended establishing a framework mandating watermarks on all content to differentiate between user-generated and AI-generated content, such as deepfakes.
• The Committee recommended developing real-time detection mechanisms to block unregistered telemarketers and maintaining a centralized database of blacklisted telemarketers shared across telecom providers.
• It recommended that the RBI supervise the migration of banks to the '.bank.in' domain and set a timeline for rolling out a digital payment intelligence platform.
• The Committee suggested exploring behavioural biometrics to detect mule accounts and directing social media intermediaries to allow only SEBI-registered financial influencers to provide advice.
• It recommended creating expert verticals within TRAI, establishing State Cybercrime Coordination Centres in all states/UTs, and setting up a 24x7 unit for coordination with foreign agencies to facilitate timely data disclosure.

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