business ๐ฆ Old bank law updated for digital age
The Rajya Sabha passed the Bankers' Books Evidence Bill, 2026, replacing a 135-year-old statute with modern legal standards. This bill was moved by the finance ministry and has cleared both houses of Parliament. It makes electronic, digital, virtual, and cloud-stored bank records admissible as evidence in court. The new law clarifies conditions for digital records and protects bank officers from unnecessary court appearances. It will become effective after receiving the President's assent and a gazette notification. ๐ฆ