New Delhi, Feb. 25 -- The Reserve Bank of India's (RBI) recent suggestion to move all Indian bank websites to the '.bank.in' domain has garnered attention, yet it represents a classic case of regulatory over-enthusiasm for a non-priority issue. While well-intentioned, it offers a superficial solution to a deep problem.

As digital banking evolves in India, the primary threat to consumer security lies not in the domain names of websites, but in the proliferation of fraudulent apps and inadequacy of protections. A change in domain name, in isolation, will do little to combat the growing menace of digital fraud.

As apps have become the primary point of interaction with banks for most consumers, the relevance of website domain names has dimi...