New Delhi, 10 August (H.S.): The Rajya Sabha on Monday passed the Bankers’ Books Evidence Bill, 2026, by voice vote after Opposition members staged a walkout during the discussion. The Bill had already been passed by the Lok Sabha.

Finance Minister Nirmala Sitharaman criticised the Opposition’s decision to leave the House, saying it was unfortunate that members chose to walk out during the discussion on an important piece of legislation.

Replying to the debate, Sitharaman said Opposition MPs should participate in discussions on reform-oriented Bills and contribute to the legislative process. She stressed the need to replace outdated colonial-era laws, noting that such legislation had originally been framed during British rule with the colonial administration and its subjects in mind.

The Finance Minister pointed out that the existing Bankers’ Books Evidence law dates back to 1891, when banking systems relied predominantly on physical and paper-based records. The banking sector has since undergone a fundamental transformation, with electronic records now forming a substantial part of financial operations.

Sitharaman said India has made significant progress in digitising its economy and that laws governing banking records must evolve in line with the country’s rapidly changing digital infrastructure.

Following the discussion, the Rajya Sabha approved the Bill by voice vote.

The legislation was passed by the Lok Sabha on August 5 and will replace the 135-year-old colonial-era Bankers’ Books Evidence Act, 1891.

The new legislation seeks to bring the legal framework governing banking records in line with modern banking practices. It provides for digital, virtual and cloud-based banking records to be recognised as admissible evidence in courts, reflecting the increasing reliance on electronic systems across the financial sector.

The passage of the Bill in both Houses marks a significant step towards replacing an outdated legal framework with provisions suited to India’s increasingly digital banking ecosystem.

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Hindusthan Samachar / Jun Sarkar