Bombay High Court Fines Yes Bank ₹50,000 for Illegally Insisting on Aadhaar for Bank Account

The Bombay High Court directed Yes Bank to pay ₹50,000 to Microfibers Pvt Ltd for refusing to open a bank account without Aadhaar, despite the Supreme Court's ruling in Justice K.S. Puttaswamy v. Union of India (2018) that Aadhaar was not mandatory for bank accounts.

A bench of justices, M.S. Sonak and Jitendra Jain, noted that the Microfibers lost rental income due to the lack of an account.

Despite seeking ₹10 lakh, the court found it “exaggerated” but awarded ₹50,000, citing exceptional circumstances under Article 226 and rejecting relegation to ordinary remedies. 

Yes Bank must pay within eight weeks and may not demand Aadhaar for such services.