ICICI Bank announced an increase in the average minimum monthly balance (MAMB) requirement for new savings accounts in metropolitan and urban areas from Rs 10,000 to Rs 50,000, effective August 1, 2025. This represents a fivefold increase and applies only to new account holders, with existing customers unaffected. The move has sparked debate over banking accessibility. Following this announcement, ICICI Bank revised the minimum balance requirement down to Rs 15,000. The Reserve Bank of India (RBI) has stated that banks are permitted to set their own minimum balance rules, emphasizing the importance for customers to compare terms before opening savings accounts. Market analysts from Jefferies have indicated that the impact of ICICI Bank’s new minimum balance requirements on customers is limited. Separately, the RBI has proposed new norms for faster claim settlements on deposits and lockers, including a 15-day timeline and compensation for delays, with a draft open for feedback until August 27 and implementation planned from January 1, 2026.