India: One of the fast developing democracy countries in the world. Moreover, India is the second largest populated country in the world. Crowd in the metropolitan cities like mumbai, kolkata, chennai are constantly increasing due to migrations of people from rural areas. Situation makes the couples get into work after their marriage.
Teaching your kids about value of the money is more important. None of school teach this to your child. For this creating separate bank account and ask them to manage. There are few financial institutions allowing to create bank account for kids (less than 18 year old). Before creating account for your kids, you should well aware about the bank and their policy.
Start to teach them from RBI, All bank IFSC code, MICR code and SWIFT code. Banks are also offering debit card with terms and conditions, fund transaction within certain limit etc.
Bank Name Acc/Debit card Name Card features Age My junior account In this card, Maximum withdrawal amount
Acc/Debit card Name
My junior account
In this card, Maximum withdrawal amount