Archive · 13 Aug 2025
RBI Governor on ICICI Bank's MAB: Not Under Regulatory Domain
The RBI Governor says the central bank doesn't control how much money ICICI Bank wants you to keep in your account.
ICICI Bank recently made new customers keep more money in their accounts.
The RBI is also checking old government bank accounts to make sure no one is using them for bad things.
They also want banks to have people called Banking Correspondents to help people in the countryside.
Finally, the RBI Governor wants people to learn about digital banking.
RBI Governor states ICICI Bank's MAB is not under RBI's regulatory domain.
ICICI Bank increased MAB to ₹50,000 for new customers in metro/urban branches.
Re-KYC is initiated for Pradhan Mantri Jan Dhan Yojana accounts to prevent fraud.
RBI is encouraging banks to strengthen Banking Correspondents (BC) networks.
RBI Governor emphasizes digital literacy for rural populations.
- Who
- Sanjay Malhotra, RBI Governor, ICICI Bank.
- What
- RBI Governor comments on ICICI Bank's increased MAB.
- When
- August 11, 2025
- Where
- Gozaria village in Gujarat, India.
- Why
- To clarify the RBI's role in banks' MAB policies.
- Metro/Urban MAB (ICICI)
- ₹50,000
- RBI Governor
- Sanjay Malhotra
- PMJDY Re-KYC
- Initiated to prevent fraud
- Banking Correspondents
- 17 Lakhs deployed
Sources
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