The Reserve Bank of India (RBI) has introduced new guidelines that empower minors in managing finances, enabling those aged 10 and above to independently operate bank accounts with limits set by the bank. Minors can open accounts through a guardian, which can also be the mother. Depending on the risk assessment, banks may provide facilities such as internet banking and debit cards to minors. When the account holder reaches adulthood, updated details will be needed to ensure a seamless transition and ongoing financial responsibility. These new guidelines aim to educate minors about financial management from a young age and promote financial literacy in India.