28 December 2011
He can but without binding him.Nothing that he does during his minority with regard to his a/c which fastens him with some liability is binding upon him,he can repudiate all those liabilities attaining majority.
29 December 2011
WHILE OPENING AN ACCOUNT OF THE MINOR THERE HAS TO BE GUARDIAN ie.MG.,AS MINOR IS NOT COMPETENT TO CONTRACT WITH THE BANK. THE MONEY IS DEPOSITD FOR THE MINOR AND IS TO BE UTILISED FOR HIM BY THE MINOR'S GUARDIAN.THEREFORE NOMINEE CAN NOT BE APPOINTED.
30 December 2011
Rightly brought out by Mr Vasant Kulkarni, I fully agree and appriciate his views. A minor can open a bank account under guardianship, in that case minor is incompetent to nominate any one.