RBI Governor Says, 'ICICI Bank’s Minimum Balance Hike Not Under Regulatory Domain'

In response to ICICI Bank hiking its minimum account balance (MAB) to Rs 50,000 for its non-salaried account holders, RBI Governor Sanjay Malhotra on Monday, August 11, 2025 said its doesn't come "under any regulatory domain".

The second biggest Indian private lender has raised its minimum account balance requisite five times the earlier applicable ammoutn of Rs 10,000.  However, this move impacts new savings account opened from August 1.  

"RBI has left it to the banks to decide on the minimum balance. Every bank has its own minimum balance requirement," Sanjay Malhotra said on August 11.

"Some banks have kept it at Rs 10,000, some have it at Rs 2,000 and some have even waived it. This is not in the (RBI's) regulatory domain," he said.

Also Read:India Braces For Trump Tariff Impact: 55% of Exports To US At Risk

Similarly, MAB for semi-urban locations and rural locations have been increased five times to Rs 25,000 and Rs 10,000, respectively, according to information available on the ICICI Bank website.

Traditionally, public sector banks have lower balance requirements compared to private lenders with the requirement waived for Jan Dhan accounts.

Several public sector banks have done away with the requirement, and customers who fail to maintain the minimum prescribed balance do not need to pay a penalty.