HSBC, SBI, and ICICI Bank were the top beneficiaries of the RBI's dollar deposit scheme for non-resident Indians, attracting $6.14 billion, $4.12 billion, and $3.7 billion respectively. The scheme garnered $36.7 billion in total, helping stabilize the rupee after a period of depreciation.
HDFC Bank and ICICI Bank have increased FCNR(B) deposit rates by 25 basis points on select USD tenures, effective August 2026, after the Indian government relaxed hedging costs on 3-5 year FCNR(B) deposits until September 2026, benefiting Non-Resident Indians with tax-free interest.
Sandeep Bakhshi has been reappointed as the CEO of ICICI Bank for another two years, with his term extended until October 3, 2028. The Reserve Bank of India approved the reappointment, which was initially approved by the bank's board in January.
Sandeep Bakhshi has been reappointed as the CEO of ICICI Bank for another two years, with his term extended until October 3, 2028. The Reserve Bank of India approved the reappointment, which was initially approved by the bank's board in January.
ICICI Bank will implement revised debit card charges from June 21, 2026. The Dynamic Currency Conversion (DCC) fee will increase from 1% to 3.50%. Annual fees for several card variants will also be adjusted, with some increasing and one notable reduction.
ICICI Bank will keep its majority stake in ICICI Prudential Life Insurance after partner Prudential acquires a controlling stake in Bharti Life, requiring Prudential to reduce its ICICI Prudential holding below 10%.
ICICI Bank has launched biometric authentication for UPI transactions up to Rs 5,000 on its iMobile app, allowing users to authorize payments via fingerprint (Android) or face recognition (iOS) without entering a UPI PIN. The feature is available on Android v30 and iOS v28.2, enhancing security by eliminating shoulder-surfing risks while speeding up transactions. Transactions above Rs 5,000 still require traditional UPI PIN verification. NPCI introduced this biometric option for payments below Rs 5,000 in October 2025.
