Bank Cannot Refuse Or Delay Account Opening Merely For Want Of Aadhaar Card; ₹50K Compensation Ordered: Bombay High Court
The Bombay High Court, in a significant ruling, held that a bank cannot insist on Aadhaar Card as a mandatory requirement for opening a bank account, especially after the Supreme Court’s verdict in Justice K.S. Puttaswamy v. Union of India (2018). The Court granted a compensation of ₹50,000 to Microfibers Pvt. Ltd., whose bank account was delayed due to the unlawful insistence by Yes Bank Ltd. on Aadhaar as a…
