https://www.taxtmi.com/news?id=41567 RBI permits banks to allow minors above a minimum age of ten to open and independently operate savings and term deposit accounts within bank-set limits and terms under their risk management policies, while minors of any age may open and operate accounts through a natural or legal guardian (including the mother). Banks must ensure accounts remain in credit, perform customer due diligence at onboarding and ongoing, obtain fresh operating instructions and specimen signatures on attainment of majority, and may offer additional services subject to product suitability and customer appropriateness. en-us Mon, 21 Apr 2025 19:46:04 +0530 Mon, 21 Apr 2025 19:46:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=41567 RBI permits banks to allow minors above a minimum age of ten to open and independently operate savings and term deposit accounts within bank-set limits and terms under their risk management policies, while minors of any age may open and operate accounts through a natural or legal guardian (including the mother). Banks must ensure accounts remain in credit, perform customer due diligence at onboarding and ongoing, obtain fresh operating instructions and specimen signatures on attainment of majority, and may offer additional services subject to product suitability and customer appropriateness. News - Mon, 21 Apr 2025 19:46:04 +0530 https://www.taxtmi.com/news?id=41567