ICICI Bank , one of India's leading private sector banks, has announced a comprehensive revision of its service charges, set to take effect from July 1, 2025. The changes will impact various banking services, including ATM usage, cash transactions, IMPS transfers, and debit card services.

ATM Transaction Limits

The bank is introducing new limits on free ATM transactions. While the specific number of free transactions has not been disclosed, customers should be prepared for potential charges on ATM usage beyond the new limits.

IMPS Transfer Fees

In a significant change, ICICI Bank will implement new fees for Immediate Payment Service (IMPS) transfers. IMPS is a popular instant payment method in India, and this change could affect customers who frequently use this service for quick fund transfers.

Cash Transaction Charges

The revision extends to cash transaction charges at ICICI Bank branches and Cash Recycler Machines (CRMs). Customers conducting cash deposits or withdrawals at these locations may face updated fee structures.

Debit Card Services

ICICI Bank's debit card services will also see changes in their fee structure. While specific details are not provided, customers should review the new charges to understand how it might affect their card usage.

Impact on Customers

These changes are likely to affect a wide range of ICICI Bank customers, from individual account holders to business clients. The bank's move to revise its service charges could be part of a broader strategy to align with market trends or to optimize its operational costs.

Customers are advised to familiarize themselves with the new fee structure once it's made available to ensure they can manage their banking activities cost-effectively. It's recommended that account holders review their typical banking patterns and consider how these changes might impact their monthly banking expenses.

ICICI Bank has not provided specific reasons for these changes in the announcement. However, such revisions are not uncommon in the banking sector and often reflect shifts in operational costs, market conditions, or regulatory requirements.

As the implementation date is set for July 1, 2025, customers have ample time to prepare for these changes and adjust their banking habits if necessary. ICICI Bank is expected to communicate more detailed information about the new charges to its customers in the coming months.

Customers seeking more information or clarification on how these changes will affect their specific accounts are encouraged to contact ICICI Bank's customer service or visit their nearest branch for personalized assistance.

ICICI Bank , one of India's leading private sector banks, has received a significant nod from the Reserve Bank of India (RBI) regarding its top leadership. The central bank has approved the reappointment of Sandeep Batra as an executive director of ICICI Bank for an additional two-year term.

Extended Tenure Details

The RBI's approval extends Batra's tenure from December 23, 2025, to December 22, 2027. This decision comes as a continuation of his current term, which was previously approved in December 2023 for the period from December 23, 2023, to December 22, 2025.

Implications for ICICI Bank

The reappointment of Sandeep Batra for an extended period signals a vote of confidence in the bank's current leadership and strategic direction. As an executive director, Batra plays a crucial role in shaping the bank's policies and overseeing its operations.

Regulatory Compliance

This approval from the RBI underscores the regulator's satisfaction with the bank's governance and leadership structure. It also highlights the importance of regulatory oversight in key appointments within the banking sector.

Looking Ahead

With this extension, ICICI Bank ensures continuity in its top management, which could potentially contribute to the stability and long-term planning of the organization. The extended tenure allows Batra to continue implementing and overseeing long-term strategies for the bank.

The reappointment of key executives like Sandeep Batra is often viewed positively by stakeholders, as it can provide stability and consistent leadership in the dynamic banking sector.