Mumbai, Aug. 12 -- The minimum balance requirements for saving accounts does not come under the regulatory domain of the Reserve Bank of India (RBI), banks decide it as per their own business needs, stated RBI Governor Sanjay Malhotra on questions of ICICI Bank raising minimum balance requirement in saving account to up to Rs 50,000.

Speaking to the media, Malhotra said, "The Reserve Bank of India has left it to the banks to decide the minimum balance amount. Some banks have a minimum balance of Rs 10,000, while some have a minimum balance of Rs 2,000."

ICICI Bank has significantly increased the minimum average balance requirement for its savings accounts across all branch categories, with the new rules effective from August 1, 2025.

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