The Reserve Bank of India has introduced new guidelines according to which minors will now be able to open their bank account including many other facilities like term deposit accounts, atm cards and more. The apex bank has allowed banks to freely offer more facilities like issuing cheque book, debit cards, etc. to the minor account holders. However, the banks are required to subject them to risk management policy, product suitability and customer appropriateness, read a new circular by the RBI.