ICICI Bank has increased the minimum balance limit in the account to Rs 50,000, which was earlier Rs 10,000.
ICICI Bank, one of the big private banks of the country, is currently under discussion. Actually, the bank has taken such a decision that will directly affect the pockets of the common people. ICICI Bank has increased the minimum balance limit in the account to Rs 50,000, which was earlier Rs 10,000.
ICIC Bank said that this decision has come into force from 1 August 2025 and will be applicable only to new accounts. Despite this, this decision shows a trend that banks are now getting away from the common man. Most common people cannot keep such a huge amount in the account at all times. Meanwhile, RBI has also raised its hands on this decision of the bank…
RBI said that it is not our responsibility.
When the resentment of the people increased on this decision, it was expected from the Reserve Bank of India (RBI) to react to some positive reaction. But the RBI Governor made it clear how much minimum balance the bank wants to keep, this is its personal decision. RBI will not interfere in this. RBI says that minimum balance is not required only in accounts with basic savings account or Jan Dhan Yojana. But in the rest of the savings account, banks can decide their own terms, provided they are “appropriate”.
Minimum balance compulsory at towns and rural levels
Under the decision of ICICI, new customers of Metro City will have to maintain a minimum balance of Rs 50,000 in their account. However, this change is not limited to metro cities only. The bank has also increased the minimum balance limit in Semi-Araban (towns) and rural (villages). Now it will be necessary to maintain ₹ 25,000 in semi-ibn area and ₹ 10,000 in rural areas. Whereas earlier this limit was ₹ 5,000 and ₹ 2,500 respectively.
Why is such a huge amount being collected from customers?
Actually, the banks want them to have more money so that they can earn profits by investing it elsewhere. The bank does not benefit much from low balance customers, so now banks are targeting such high-net customers who can easily maintain Rs 50,000 or more balance.
Relief in government banks still
The country’s largest government bank like SBI had abolished the minimum balance rule in 2020 itself. Even today, in many public sector banks like SBI, Bank of Baroda, you do not have to face any such mess. Although a big private bank like HDFC Bank still has a minimum balance limit, it is much less than ICICI. Like ₹ 10,000 in metro cities, ₹ 5,000 in towns and ₹ 2,500 in villages.