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Section 48 of The Small Industries Development Bank of India Act, 1989 in hindi

The Bankers' Books Evidence Act, 1891 shall apply in relation to Small Industries Bank as if it were a bank as defined in section 2 of that Act.

Summary

The Bankers' Books Evidence Act of 1891 legally applies to the Small Industries Bank.
For the purposes of this 1891 law, the Small Industries Bank is legally treated exactly as if it were a standard bank.
This rule is tied directly to the definitions located in section 2 of the 1891 Act, ensuring the Small Industries Bank enjoys the same evidentiary privileges as traditional commercial banks in court.

Practical examples

1In a legal dispute over a defaulted loan, the Small Industries Bank needs to prove a business owner missed three payments. Thanks to this provision, the Bank does not have to carry its original physical ledgers into the courtroom. It can submit a certified copy of its electronic accounting records, which the judge must accept as evidence just like records from any standard bank.

2An auditor questions the validity of an account extract provided by the Small Industries Bank during a fraud investigation. The investigator confirms that under the law, the extract carries the exact same legal weight as a certified book from a high street bank, resolving the auditor's doubts.

FAQ

1. What does the Bankers' Books Evidence Act actually do for the Bank?

It allows the Bank to submit certified copies of its records as legal evidence in court proceedings, rather than having to produce the original physical record books.

2. Why is it necessary to state that the Small Industries Bank is treated as a bank?

Because the Small Industries Bank was created by a unique law for a specific development purpose, it might not automatically fit the traditional definition of a bank without this explicit clarification.

3. Does this rule affect how the Bank deals with its regular business operations?

No, this provision strictly relates to how the Bank's record books are handled and verified in court cases.

Test yourself

Q1.Under Section 48 of The Small Industries Development Bank of India Act, 1989, which older piece of legislation is made applicable to the Small Industries Bank?

Q2.Under Section 48 of The Small Industries Development Bank of India Act, 1989, how must the Small Industries Bank be treated under the applied 1891 law?

Q3.When examining the cross-reference in Section 48 of The Small Industries Development Bank of India Act, 1989, which section of the Bankers' Books Evidence Act is highlighted to confirm the legal identity of the Small Industries Bank?

Q4.Under Section 48 of The Small Industries Development Bank of India Act, 1989, what is the primary consequence of applying the Bankers' Books Evidence Act to the Small Industries Bank?

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