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    Question

    What is the RBI’s stance on minors operating bank

    accounts as per the new circular?
    A Only minors above 15 years can operate accounts Correct Answer Incorrect Answer
    B Minors above 10 years can operate accounts independently Correct Answer Incorrect Answer
    C Only with a guardian's signature Correct Answer Incorrect Answer
    D Only term deposits allowed Correct Answer Incorrect Answer
    E Only via school-linked schemes Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India now permits minors above 10 years to independently open and operate savings or term deposit accounts. Minors of any age can also open accounts through a natural or legal guardian.

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