Single Guardian Policy

• Banks generally allow only one parent or guardian to be the registered operator of a Minor’s Account.
• This guardian is legally responsible for managing the account on behalf of the minor.
• Either the father or mother can be designated as the guardian—not both simultaneously.
• The guardian’s name is officially recorded during account opening.
• This simplifies operations and legal accountability.

Alternate Guardian Inclusion

• While only one guardian operates the account, the other parent can be added as a nominee or authorized signatory in special cases.
• Some banks allow an alternate guardian to be noted for internal reference.
• In case of the primary guardian’s death or incapacity, the second parent can assume control.
• A formal request and document update are required to change guardianship.
• Succession rules apply if no alternate guardian is specified.

Legal and Documentation Requirements

• Proof of relationship with the minor is required—typically a birth certificate or legal declaration.
• Guardian must submit full KYC documents: Aadhaar, PAN, and address proof.
• Minor’s birth certificate or school ID is needed to verify age.
• Guardianship declaration is signed and retained by the bank.
• Legal guardians (other than parents) may be accepted with a court order.

Special Cases and Exceptions

• In case of separated or divorced parents, banks may ask for legal proof of guardianship.
• If one parent is deceased or unavailable, the other becomes the default guardian.
• Court-appointed guardians must provide supporting legal documentation.
• Trusts or legal entities may act as guardians in institutional arrangements.
• All changes must be formally recorded and approved by the bank.

Operational Considerations

• The guardian is solely responsible for transactions, compliance, and account maintenance.
• Nomination can be done in favor of the other parent or any third party.
• Upon reaching majority (18 years), the minor assumes full account control.
• Guardianship ends automatically at that point and must be formally closed.
• The bank notifies both the minor and guardian for KYC updates at maturity.