The bank's website was serving dangerous malware and it has emerged that the ISP- RBN, which has been linked to child pornography and phishing, is behind the attack.
VeriSign says that RBN is almost completely illegal.
"A scan of RBN and affiliated ISPs' net space conducted by VeriSign iDefence analysts failed to locate any legitimate activity. Instead, research identified phishing, malicious code, botnet command-and-control, denial-of-service attacks, and child pornography on every single server owned by RBN," reports zdnet.
The RBN has not been stopped because nobody knows who is operating it. However it is thought that it might have links to powerful politicians in Russia.
Bank of India's website had been hacked using an Iframe, leading victims to a malicious code.
RBN had also placed Trojans within the website which caused more dangerous software to be downloaded onto the website Patrik Runald, a senior security specialist at F-Secure told the website.
They were designed to steal passwords from PCs.