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Monday 28 March 2016

CLARIFICATION ON ISSUANCE OF ATM CARDS TO MINOR ACCOUNT

You have already clarified that ATM can be issued for Minor Accounts . SOLs are now seeking clarification on following points :
1. Whether ATM Cards can be issued for both Minor Accounts operated by Minor and Minor Accounts operated by Guardian ?
2. If ATM Card can be issued for Minor Accounts operated by Guardian then whether the ATM card is to be issued in CIF ID of Minor or CIF ID of Guardian ?

Clarification

ATM card cannot be issued for minor account. If guardian wants an ATM card he may get it issued for his CIF ID and for his SB account.

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