DBOD.No.Leg.BC.19/C.90(H)-89

September 8, 1989

The Chairmen & Managing Directors
of all Commercial Banks

Opening of Bank Accounts in the Names of
Minors with Mothers as Guardians

Please refer to our circular DBOD.No.Leg.BC.158/C.90(H)-76 dated 29 December, 1976, inter alia, advising banks to allow opening of minors’ accounts (fixed and savings only) with mothers as guardians. We have now examined a request to extend the facility of allowing opening of minors' accounts with mothers as guardians, to Recurring Deposit Accounts also and we see no objection to accede to it. You may advise your branches suitably.

Yours faithfully,

(M.V. Ramamurthy)
Deputy Chief Officer