New Delhi, 03 August (H.S.): Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday introduced the 'Bankers' Books Evidence Bill, 2026' in the Lok Sabha. The proposed legislation will replace the 125-year-old colonial-era Bankers' Books Evidence Act, 1891.

Sitharaman introduced the Bill amid protests and sloganeering by Opposition members, who were raising issues related to the alleged theft of donations at the Ram Temple in Ayodhya and police action against protesting students in Delhi. The objective of the new legislation is to modernise the legal framework governing banking records, incorporate digital methods, and protect banks from unnecessary legal proceedings.

The proposed law seeks to expand the definition of bankers' books to include digital, cloud-based, and other electronic records. The Bill will replace the colonial-era Bankers' Books Evidence Act, 1891, and aims to bring laws related to evidence from bankers' records in line with the requirements of modern digital banking practices.

The Bill provides clear and uniform guidelines for presenting and certifying digital and electronic banking records as evidence before courts. It also includes provisions for a special cause test to prevent bank officials from being repeatedly summoned before courts without substantial grounds.

The legislation is intended to streamline procedures related to banking records and ensure that the legal framework keeps pace with technological advancements in the banking sector.

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Hindusthan Samachar / Jun Sarkar