Section 58 of The National Bank for Agriculture and Rural Development Act, 1981
The Bankers' Books Evidence Act, 1891 (18 of 1891), shall apply in relation to the National Bank as if it were a bank as defined in section 2 of that Act.
Summary
- The rules of the Bankers' Books Evidence Act of 1891 apply directly to the National Bank.
- This means the National Bank is legally treated just like any other standard bank under that specific 1891 evidence law.
- Because Section 2 of the Act defines the National Bank as the specific institution created for agriculture and rural development, this rule ensures its internal records hold the same legal weight in court as those of traditional commercial banks.
Practical examples
FAQ
1. What is the purpose of Section 58?
It ensures that the Bankers' Books Evidence Act of 1891 applies to the National Bank, allowing its records to be used as legal evidence easily.
2. How does the law view the National Bank in relation to this 1891 Act?
It treats the National Bank exactly as if it were a standard bank defined under section 2 of the Bankers' Books Evidence Act.
3. Does this mean the National Bank's records are treated differently than regular businesses?
Yes, they receive the special legal recognition given to official bank records in court proceedings.
Test yourself
Q1.Under Section 58 of The National Bank for Agriculture and Rural Development Act, 1981, which older piece of legislation is explicitly made applicable to the National Bank?
Q2.Under Section 58 of The National Bank for Agriculture and Rural Development Act, 1981, the Bankers' Books Evidence Act applies to the "National Bank". Based on the cross-reference to Section 2 (Definitions), which specific entity is granted this special legal status?
Q3.Under Section 58 of The National Bank for Agriculture and Rural Development Act, 1981, how is the National Bank legally categorised for the purposes of the 1891 evidence law?
Q4.If a court is evaluating documents submitted by the National Bank, what practical effect does Section 58 of The National Bank for Agriculture and Rural Development Act, 1981 have?