Two Significant Legislations In Lok Sabha

New Delhi:The government on Monday introduced two significant legislations in Lok Sabha aimed at overhauling the legal framework governing the Indian Statistical Institute (ISI) and modernising the country's banking evidence laws to align with the digital era, even as proceedings were disrupted by Opposition protests during the Monsoon Session.

Minister of Statistics and Programme Implementation Rao Inderjit Singh introduced the ISI Bill 2026, while the Union Finance Minister Nirmala Sitaraman tabled the Bankers' Book Evidence Bill, 2026. The Bills were introduced amid continuous sloganeering by Opposition members before the House was adjourned till 2 pm.

According to the statement of Objects and Reasons of the Bill,the proposed legislation aims to modernise the Institute's governance, academic and financial architecture by incorporating the ISI as a body corporate.

The Bankers' Book Evidence Bill, 2026, seeks to repeal the colonial-era Bankers' Book Evidence Act 1891 and establish a modern legal framework reflecting the transformation of India's banking sector into a predominantly digital ecosystem.

The proposed law significantly expands the definition of "bankers' Books" to include electronic, digital, virtual and cloud-based records, recognising the widespread adoption of online banking, electronic record-keeping and digital financial transactions.

The Bill also introduces safeguards to protect banking officials from unnecessary legal inconvenience. It proposes that courts must record written "special cause" before summoning bank officers or directing the production of original banking records in cases where the bank itself is not a party to the proceedings.