The Rajya Sabha has passed The Bankers' Books Evidence Bill, 2026, which aims to replace a British-era law and allow digital and virtual records to be admissible as evidence in courts. This legislation aligns with contemporary digital banking practices and extends a uniform evidential framework to various financial entities, including NBFCs and fintech companies. Finance Minister Nirmala Sitharaman highlighted the bill's role in strengthening public confidence and safeguarding customer privacy. The bill's passage, however, saw an Opposition walkout over unrelated issues.
Relentless protests by Opposition parties forced the adjournment of the Lok Sabha for the day after the passage of the Bankers' Books Evidence Bill without a debate on Wednesday, with the government accusing them of coming to the House to disrupt proceedings and not for discussion.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
With a sole mandate of inflation targeting, RBI wears many hats.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
With no payments coming in, HAL for the first time ever taken a bank loan of Rs 7.81 billion.
Jacob Fugger could always add value for his customers. He made himself indispensable. That kept him in the game
A glance back at some important events that occurred in 2018.
'An America at war with itself, groaning under a mounting debt, with woolly-headed economic policies of a neophyte president who is more feared and suspected among the comity of nations does not augur well for the world.' 'It would be well justified in asking,' says Shreekant Sambrani, '"Is this how you expect to make America great again, Mr President?"'
Unless the judges factor in the ungovernability of technologies and their beneficial owners, present and future Presidents, prime ministers, judges, legislators and officials handling sensitive assignments may become redundant with reference to their age-old roles for securing 'national resources and assets', warns Dr Gopal Krishna.
Biometric authentication is based on the unscientific and questionable assumption that there are parts of human body that does not age, wither and decay with the passage of time.
Aadhaar-related schemes and the Aadhaar Act exist on the assumption that Right to Privacy is not a Fundamental Right.
