In the internet era, many customers of banks are migrating from paper based documentation to remote electronic access and transaction initiation such as automated teller machines (ATM’s), telebanking and PC-banking. Therefore, the way the banking information was traditionally stored and presented in courts as evidence should also be changing in order to keep pace with the technological development. This summary deals with modifications to the Bankers Book of Evidence Act, 1891 (BBEA) which would allow storage of “bankers books” in electronic forms and it allows it to be presented in courts as evidence of banking transactions.
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Banking records are normally called “bankers books” and it includes ledgers, day books, cash books, account books and all other books used in the ordinary business of a bank.
Third schedule of the Information Technology Act, 2000 (IT Act) deals with the amendment to the BBEA and it modifies section 2 (3 of) BBEA to allow such records to be presented as evidence as printouts of data stored in a floppy disc, tape or any other form of electro- magnetic data storage device
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Sreeraman Rajakrishna, IBLS