ICICI Bank , one of India's leading private sector banks, has announced significant changes to its savings account policies and reported strong financial results for the first quarter of the fiscal year.

New Minimum Balance Requirements

ICICI Bank has revealed substantial increases in minimum average monthly balance requirements for new savings accounts, effective from August 1, 2025. The revised requirements are as follows:

This significant hike in minimum balance requirements applies only to new savings accounts opened from the specified date.

Updated Service Charges

Along with the new balance requirements, ICICI Bank has also revised its service charges:

• Three complimentary cash deposits and withdrawals per month at branches
• Additional transactions will incur a charge of ₹150.00
• Monthly transactions up to ₹1 lakh remain free
• Transactions exceeding ₹1 lakh will be charged at ₹3.50 per ₹1,000 or ₹150.00, whichever is applicable

Q1 Financial Performance

ICICI Bank reported robust financial results for the first quarter:

• Standalone net profit increased by 15.5% to ₹12,768.00 crore
• Net interest income rose by 10.6% to ₹21,635.00 crore
• Asset quality improved with gross Non-Performing Assets (NPA) ratio at 1.67%, down from 2.15% in the previous comparable period

Stock Performance

ICICI Bank's shares closed 0.25% lower at ₹1,436.40 on the day of the announcement. However, the stock has shown strong performance over longer periods:

• 14% gain over the past six months
• 23% increase over the last year

These policy changes and financial results reflect ICICI Bank's efforts to optimize its operations and maintain strong financial health in a competitive banking environment. The increased minimum balance requirements may impact new customers, particularly in urban and metro areas, while the bank continues to show solid financial growth and improved asset quality.

ICICI Bank , one of India's leading private sector banks, has made headlines with two significant developments: a substantial increase in minimum balance requirements for savings accounts and a penalty imposed by the Reserve Bank of India (RBI).

Steep Rise in Minimum Balance Requirements

ICICI Bank has announced a significant increase in its minimum average monthly balance requirements for savings accounts, effective August 1, 2025. The new structure is as follows:

This move positions ICICI Bank's minimum balance requirement as the highest among domestic banks, surpassing HDFC Bank's ₹10,000 requirement for urban and metro areas.

A senior banker explained that this strategy aims to capture a larger share of the affluent market and increase cross-selling opportunities for products like insurance and brokerage services to wealthier customers. The decision reflects the bank's focus on wealth management as competition intensifies from mutual funds and other financial service providers targeting affluent savers.

RBI Imposes Monetary Penalty

In a separate development, the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹75 lakh on ICICI Bank Limited. The penalty, announced on August 8, 2025, is for non-compliance with certain RBI directions.

The RBI's order, dated August 7, 2025, cites two specific violations:

1. Failure to carry out valuation of properties by independent valuers in certain mortgage loans.
2. Opening and maintaining certain current accounts in contravention of extant regulatory requirements.

The penalty was imposed following a Statutory Inspection for Supervisory Evaluation (ISE 2024) conducted by the RBI, which referenced the bank's financial position as of March 31, 2024.

ICICI Bank was given an opportunity to respond to the charges through a show-cause notice and personal hearing. After considering the bank's replies and submissions, the RBI found the charges to be sustained, warranting the monetary penalty.

The RBI emphasized that this action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

As ICICI Bank implements its new minimum balance requirements and addresses the regulatory compliance issues, it remains to be seen how these developments will impact its market position and customer relationships in the competitive Indian banking sector.