The Reserve Bank of India (RBI) has introduced new guidelines that empower minors in managing finances, allowing those above the age of 10 to independently operate accounts with bank-set limits. This move enables minors to open accounts through a guardian, which can include the mother. Banks are now permitted to provide services such as internet banking and debit cards to minors based on a risk assessment. When the minor reaches adulthood, updated account details will be necessary to ensure a seamless transition and ongoing financial responsibility. These new guidelines aim to promote financial literacy and independence among younger individuals in India.