Bankers' Books Evidence Act 2026 To Come Into Force From Oct 1
The Act received the assent of the President on August 13, 2026. A notification dated September 10, 2026 has appointed October 1 as the date for the provisions of the Act to come into force.
The Act 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 through manual, digital or electronic signatures.
The Act provides greater clarity on the summoning of bank officials when the bank is not a party to the proceedings. In such cases, the Court will be required to record a“special cause” in writing for summoning the official.
The Central Government may also extend the provisions of the Act to specified financial sector entities or classes of entities, allowing the framework to cover changes in the financial sector.
(KNN Bureau)
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