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No, a separate bank account on minor's name is not required.
Simply add minor to any of your (Guardian) bank account. This is sufficient to open demat / trading account.
Please do not fall in the trap of bank officers who will try hard to open a separate account on kid's name and later charge maintenance fees.
Anyway, for tax purpose, minor income is added to the parent's income, it doesn't make sense to have a separate bank account.
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