Now Reading: Rajya Sabha passes bill to admit digital bank records as evidence
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Rajya Sabha passes bill to admit digital bank records as evidence
The Rajya Sabha on Monday passed the Bankers' Books Evidence Bill, 2026, making digital and virtual banking records legally admissible as evidence in courts. Finance Minister Nirmala Sitharaman said the bill replaces…
The Story in Brief
The Rajya Sabha on Monday passed the Bankers' Books Evidence Bill, 2026, making digital and virtual banking records legally admissible as evidence in courts. Finance Minister Nirmala Sitharaman said the bill replaces the British-era Bankers' Books Evidence Act of 1891 and provides a uniform evidential framework for all regulated financial entities, including NBFCs, payment aggregators and fintech firms. The Lok Sabha had already cleared the bill on August 5. The bill was passed by voice vote after the Opposition staged a walkout over demands that Home Minister Amit Shah respond to the alleged use of pellet guns during the July 20 Sansad march.
The Indian Opinion
The government deserves credit for finally replacing a 135-year-old Act that was written when ledgers were ink on paper. But the real test will be about privacy safeguards and implementation. When will the detailed rules under Clause 4 be published? And who will audit the audit trails? Without clear protocols on data retention and access, the old Act's rigidities may be replaced by ambiguities that hurt small account holders more than they help banks.
Sources (2): rediff.com, ndtv.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
