The Bankers’ Books Evidence Act, 2026, will come into force from October 1st. The Act, which received the President’s assent on 13th of August, will replace the Bankers’ Books Evidence Act, 1891.
The Act will provide for a modern framework for the use of banking records as evidence in line with contemporary banking practices.
The new legislation adopts a technology-neutral approach by recognising banking records maintained in physical, electronic, digital, virtual, cloud-based and other contemporary forms. It also provides for simplified and standardised certification of banking records, including through manual, digital or electronic signatures.
The new law aims to modernise the legal framework to meet the requirements of the present banking system.
The Act also seeks to provide a law relating to evidence with respect to bankers’ books and to align it with contemporary digital banking practices. The legislation also has a provision that an electronic or digital record of a banker’s book will be admissible, valid, and legally enforceable as evidence.
