Indian banking can no longer afford the pretence of free service. If it is to balance financial inclusion with the realities of profitability, it must confront uncomfortable truths: honest pricing, transparent policies, and governance that respects both shareholder returns and social mandates are no longer optional — they are survival essentials.ICICI Bank’s recent decision to raise the minimum average balance for new savings accounts from ₹10,000 to ₹50,000 in metro and urban areas, with similar increases in smaller towns, is not a mere pricing tweak. It is a public admission of a shift that the industry has long acknowledged in private: the economics of running a traditional retail bank have changed irreversibly. By exempting existing customers and salary accounts, the bank has softened the immediate blow, but its intent is clear: to align its customer base with the economic realities of sustaining those relationships.
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