Bankers' Books Evidence Act slated to become law on October 1

The Finance Ministry released a notification on September 10 declaring that the Bankers' Books Evidence Act will take effect on October 1, 2026. The legislation embraces a technology-neutral approach, formally acknowledging banking records kept in physical, electronic, digital, virtual, cloud-based and other contemporary forms. It also provides for simplified, standardized certification of such records, permitting manual, digital or electronic signatures.

By covering a broad range of financial entities, the Act is designed to adapt to the changing financial landscape. Officials said the measures reflect the government's ongoing commitment to updating laws in step with technological progress and economic needs. The reforms are intended to promote ease of doing business and to strengthen a modern, efficient financial system.