SBI to launch special scheme for children soon

May 09 2014, 04:32 IST
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SummaryFollowing the Reserve Bank’s move to allow minors to open and operate accounts, the SBI has said it will start a special scheme for children shortly.

Following the Reserve Bank’s move to allow minors to open and operate accounts, the SBI has said it will start a special scheme for children shortly.

“We do open accounts for children, but we have restrictions on overdrafts as if there is overdraft, we would not be able to realise it. There is no restriction on deposits, though. And we are going to launch a special scheme for children in the next three months,” SBI chairperson Arundhati Bhattacharya said.

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