As per Reserve Bank of India (RBI) guidelines, from what minimum age can a minor independently open and operate a savings bank account?

Introduction / Context:
The Reserve Bank of India (RBI) periodically issues guidelines regarding who can open and operate bank accounts. One important reform was allowing minors to independently open and operate savings bank accounts, which promotes financial inclusion and early financial literacy. This question checks whether you know the minimum age from which a minor can do this on their own, without a guardian operating the account on their behalf.

Given Data / Assumptions:

• The question is specifically about RBI guidelines for minors opening and operating savings accounts independently.
• We must identify the minimum age in years.
• Options: 9, 10, 12 and 14 years.

Concept / Approach:
RBI allowed banks to offer savings accounts to minors above a certain age, permitting them to operate these accounts independently, subject to limits set by individual banks. The widely accepted and frequently tested figure is 10 years. A minor who has attained the age of 10 years can independently open and operate a savings bank account, although banks may impose restrictions on overdrafts, cheque books or other facilities.

Step-by-Step Solution:
Step 1: Recall RBI's guidelines on financial inclusion and minor accounts.Step 2: Remember that the threshold age mentioned in these guidelines is 10 years.Step 3: Compare with options: 9 years is too low as per the standard rule; 12 and 14 years are higher than the minimum and thus not correct.Step 4: Confirm that the correct minimum age is 10 years.Step 5: Select 10 years as the correct answer.

Verification / Alternative check:
Exam-oriented banking awareness materials and RBI circular summaries consistently reference the age of 10 for minors to independently operate savings accounts. While banks may have their own additional conditions, the underlying RBI guideline uses 10 as the baseline age, not 9, 12 or 14.

Why Other Options Are Wrong:

• 9 years: Slightly below the official threshold; used as a tricky distractor but not supported by RBI's general guideline.
• 12 years: A common guess due to association with adolescence, but the RBI allowed independence from an earlier age.
• 14 years: Sometimes associated with other legal thresholds but not with the specific RBI rule about minors operating savings accounts.

Common Pitfalls:
Students often confuse age thresholds from different laws (for example, labour laws, adolescence definitions, or other banking rules such as issuance of debit cards). Because 12 and 14 are psychologically “rounder” ages, they may seem tempting. However, you should firmly remember that for independent operation of a savings bank account as per RBI's guidance, the minimum age is 10 years.

Final Answer:
As per RBI guidelines, a minor can independently open and operate a savings bank account from the age of 10 years onwards.