Hi,
I have closed an account of my son (minor) with Axis Bank just few days ago. Now the bank has send a cheque for the final settlement (interest, etc) but the cheque is in the name of the closed account (ie. minor account name).
I have no other account by the same name with any other bank and so it’s not possible for me to deposit the cheque.
What is the RBI rules regarding this problem? Will I have open the same name account with other bank and there is no other alternative (though I have other account with Axis on my name)
Please advise.