The Headlines – Savings bank account for children: Know the latest RBI rules

RBI’s new guidelines empower minors to manage finances, allowing those above 10 to independently operate accounts with bank-set limits. Accounts can be opened by any minor through a guardian, including the mother. Banks may offer internet banking and debit cards based on risk assessment. Upon reaching adulthood, updated account details are required, ensuring a smooth transition and continued financial responsibility.

The Headlines – Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News – Read More