The Reserve Bank of India (RBI) has recently revised guidelines pertaining to minors’ deposit accounts in India. As per the new rules, minors aged 10 and above are now permitted to independently operate savings and term deposits, provided they adhere to the respective bank’s policies. The RBI has emphasized that banks need to facilitate a seamless transition when the account holder turns 18 years old. This transition process includes updating the Know Your Customer (KYC) details and managing the account accordingly. These updated guidelines aim to empower minors to take charge of their finances at an early age while ensuring that banks maintain strict compliance with regulatory requirements. By allowing minors to independently operate deposit accounts, the RBI is promoting financial literacy and responsibility among the younger population in the country. It is essential for banks to implement these guidelines effectively to provide a conducive environment for minors to learn about financial management. The RBI’s initiative aligns with the government’s vision of promoting a financially inclusive society and fostering a culture of saving and investment among individuals from a young age.