Bombay High Court directs Yes Bank to pay ₹50,000 for insisting on Aadhaar to open bank account

The Bombay High Court has directed YES Bank to pay ₹50,000 for insisting on Aadhaar to open a bank account, despite a Supreme Court ruling that Aadhaar cannot be mandated for opening bank accounts for non-beneficiary schemes. This judgment reinforces the Supreme Court's position on the voluntary nature of Aadhaar for general banking services. The penalty imposed on YES Bank serves as a clear message to financial institutions to strictly adhere to judicial pronouncements regarding customer identification. It protects individuals from being denied essential services due to non-possession of Aadhaar and underscores the importance of compliance with regulatory and judicial directives by banks.