The Reserve Bank of India (RBI) has introduced new guidelines that empower minors in managing their finances, enabling those aged 10 and above to independently operate bank accounts with limits set by the bank. Minors can open accounts with the assistance of a guardian, which can also be the mother. Banks have the option to provide internet banking and debit cards to minors after conducting a risk assessment. When the minor reaches adulthood, updated information for the account is necessary to facilitate a seamless transition and maintain financial responsibility. These new guidelines aim to promote financial literacy and independence among minors in India, providing them with valuable skills in money management from a young age.