The Reserve Bank of India (RBI) has recently revised guidelines pertaining to deposit accounts for minors in India. As per the new rules, minors aged 10 and above are now permitted to autonomously operate savings and term deposits, contingent upon the respective bank’s policies. To facilitate a seamless transition when the account holder turns 18, banks are mandated to update the Know Your Customer (KYC) details and manage the account accordingly. This move aims to empower young individuals to take charge of their financial affairs at an early age while ensuring compliance with regulatory standards set by the RBI. The updated regulations reflect the RBI’s commitment to promoting financial literacy and inclusivity among the youth in India.