SBI Launches Savings Accounts for Children

New Delhi: State Bank of India (SBI) on Friday introduced personalised savings accounts for those below 18 years of age. India's largest lender introduced two products - 'Pehli Udaan' and 'Pehla Kadam' - three months after the Reserve Bank (RBI) issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as ATMs and cheque books. "'Pehli Udaan' is a singly operated sa...