Senior boss asked for resign

In every bank, there is a well laid down instructions in the form of  manual, and when the employee was asked to do which is not proper, and when such actions jeopardize the interest of the institution, he is bound to report to the matter to higher authorities.  An employee in a bank is supposed to obey reasonable orders of a superior.   The unions/associations are more powerful and they might have handled thousands of such situations.  Let him approach his Union or authorities.

Senior Boss is right.

It is well settled that there is no master and servant relationship between  an superior and inferior employee. Moreover, instruction from an official superior is a defence neither in a tort or a crime.

Let your friend may improve his relation with his senior.