ICICI Bank has recorded the lowest employee attrition rate among large private sector lenders over the last three financial years, underscoring its ability to retain talent through competitive remuneration and a supportive work culture. According to the bank’s latest Business Responsibility and Sustainability Reporting (BRSR) data, attrition fell to 18% in FY25 from 24.5% in FY24. This decline is in line with the broader industry trend of year-on-year reduction in workforce exits.
In a separate development, the bank has announced a revision in its minimum average balance requirements for savings accounts, effective August 1, 2025. For customers in metro and urban areas, the required balance has been increased from ₹10,000 to ₹50,000. In semi-urban areas, the threshold has risen from ₹5,000 to ₹25,000, while rural branches will now require a minimum balance of ₹10,000, up from ₹2,500, according to ANI.
Customers who fail to meet the revised minimum balance will be charged a penalty of 6% of the shortfall or ₹500, whichever is lower. The bank has clarified that pensioners will be exempt from these charges. Additionally, participants in the Family Banking program can avoid penalties if the collective family balance meets 1.5 times the eligibility criteria; otherwise, non-maintenance charges will apply to individual accounts.
ICICI Bank has also outlined updated fee structures for certain transactions. ECS/NACH debit returns will attract a charge of ₹500 per instance, with a cap of three charges per month for the same mandate. Outward cheque returns due to financial reasons will incur a ₹200 fee per instance, while inward cheque returns for financial reasons will be charged ₹500 per instance. Non-financial inward cheque returns will attract a fee of ₹50 per instance, except in cases involving signature verification.
These changes are expected to impact a significant number of account holders, particularly in rural and semi-urban areas. Some customers may explore basic savings account options, which do not carry such balance requirements, to avoid the revised charges. Meanwhile, the bank maintains that the revised structure is aimed at streamlining account management and ensuring compliance with its program criteria.
