The Reserve Bank of India (RBI) has recently revised guidelines for minors’ deposit accounts in India, permitting individuals aged 10 and above to autonomously manage savings and term deposits, in accordance with bank regulations. It is mandatory for financial institutions to facilitate a seamless transition when the account holder turns 18, by updating Know Your Customer (KYC) details and account handling procedures. These new regulations aim to empower young individuals to take charge of their finances from an early age and promote financial literacy among minors. The RBI’s decision is expected to have a positive impact on the banking sector in India, encouraging young savers to develop responsible financial habits and secure their future.