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THE BANKERS’ BOOKS EVIDENCE BILL, 2026

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  THE BANKERS’ BOOKS EVIDENCE BILL, 2026   PROS, AND CONS DETAILED. SARASIJ MAJUMDER   The Bankers’ Books Evidence Bill, 2026: The Bankers’ Books Evidence Bill, 2026 is in limited sense   a   landmark legal reform passed by the Indian Parliament in August 2026 to replace the 135-year-old colonial-era Bankers' Books Evidence Act of 1891. But it required detailed deliberation at both the houses. There are some obvious ‘FLAWS’ as described at the end. The legislation modernises how banking and financial data are used as evidence in courts, shifting from physical ledger books to an all-encompassing digital, virtual, and cloud-based architecture. Detailed Pros (Advantages)The Bill provides a massive technological overhaul for India's evolving financial ecosystem: Future-Ready Scope: It broadens the definition of "bankers' books" to legally recognize data stored in physical, digital, electronic, virtual, or cloud-based formats, including backup and dis...
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NDA WHITE PAPER

THEN AND NOW – A SUMMARY

SARASIJ MAJUMDER

When the NDA government took over the reins in 2014, the economy was in a very bad shape, nay, crisis. We faced the hydra-headed challenge of fixing an economy mismanaged for a decade, and we started restoring its fundamentals to sound health.

 · Then, we were among the 'fragile five' economies;

Now, we are among the 'top five' economies, making the third highest contribution to global growth every year.

· Then, the world had lost confidence in India's economic potential and dynamism;

Now, with our economic stability and growth prospects, we inspire hope in others. We share at Annexure 1 a snapshot of perceptions of two major international organizations.

· Then, we had a scam-riddled 12-day Commonwealth Games;

Now, we successfully hosted a far-bigger and year-long G20 Presidency in 2023, showcasing India at its best in terms of content, consensus and logistics, providing acceptable solutions to global problems.

· Then, we had 2G scam;

Now, we have extensive coverage of the population under 4G with the lowest rates and the world's fastest rollout of 5G in 2023.

· Then, we had the Coalgate scam;

Now, we have built systems for transparent and objective auctions for harnessing natural resources to boost the economy and the public finances.

· Then we provided gold import license for a chosen few;

Now, we have set up a bullion exchange in GIFT IFSC with a transparent mechanism for import.

· Then, we had the economy facing a 'twin balance sheet problem';

Now, we have turned the economy to having a 'twin balance sheet advantage' for companies as well as banking sector with ample capacity to ramp up investments and credit and generate employment.

· Then, we had double-digit inflation;

Now, inflation has been brought down too little over 5 per cent.

· Then, we had a foreign exchange crisis;

Now, we have record foreign exchange reserves of over USD 620 billion.

· Then, we had 'policy-paralysis'; infrastructure was not a priority;

Now, the wheels of the virtuous cycle of 'investment, growth, employment and entrepreneurship, and savings' leading to more investments and productivity has been set into fast motion.

· Then, we had sporadic coverage of development programmes;

Now, we have 'saturation coverage' for providing basic necessities for all, with measured, targeted, and inclusive support for the needy and empowerment of all to pursue their aspirations.

In sum, the progress achieved in the ten years of our government has overcome the malaise and paralysis of the previous ten years of the UPA government. In 2024, confidence and purpose have replaced the diffidence and drift of 2014.

 

Reference, and acknowledgement:

NDA WHITE PAPER—Page 45 (LAST para), and 46.

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