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Shanti Ekambaram tops Hurun India 2025 list of women professionals
The inaugural report analysed 97 women across nine categories, professionals, first-generation wealth creators, next-generation leaders, investors, philanthropists, young women leaders, artists, most-followed influencer founders, and most-followed celebrity investors. Parminder Chopra, chairperson and managing director, Power Finance Corporation (PFC), follows Ekambaram in the list.
Overall, the businesses led by the women in the top professionals' list are valued at over ₹11.7 trillion, the report stated.
Leading the list of top 10 first-generation women wealth creators is Radha Vembu, cofounder of Zoho Corporation, with a net worth of ₹55,300 crore. Roshni Nadar Malhotra, chairperson, HCL Technologies, tops the list of next-generation women leaders, with her company being valued at ₹4.87 trillion.
Isha Ambani, executive director at Reliance Retail ranks sixth in the top-10 young women leaders list. Meanwhile, Devanshi Kejriwal (28), cofounder and CPO, Skillmatics, ranks first on the list.
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Time of India
15 hours ago
- Time of India
ICICI Bank's hike in monthly average balance: How it compares with other private and PSU Banks
Academy Empower your mind, elevate your skills ICICI Bank MAB Kotak Mahindra Bank MAB YES Bank MAB Public Sector Banks At a time when many state-owned banks , such as State Bank of India (SBI), Canara Bank , and Punjab National Bank (PNB), have scrapped minimum balance requirements or waived penalties, ICICI Bank has adopted a different stance. Effective August 1, 2025, the private lender has significantly increased the minimum average balance (MAB) for new savings accounts to Rs 50,000. Meanwhile, other private banks, such as HDFC Bank Kotak Mahindra Bank , and YES Bank , continue to enforce varying balance thresholds based on account type and branch a quick comparison of the minimum average balance requirements for savings accounts of ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and YES Bank with those of public sector banks ICICI Bank has raised the minimum balance requirement for new savings bank accounts opened in metro or urban areas on or after August 1 by five times, to Rs 50,000-an increase of five times the earlier requirement-while public sector banks have rationalised their fines or eliminated them entirely. However, customers of ICICI Bank who opened their savings accounts before August 1, 2025, will need to maintain the old MAB requirement of Rs 10, August 1, 2025, new savings account holders of ICICI Bank in metro and urban locations must maintain a minimum average balance of Rs 50,000. In semi-urban locations, the MAB requirement is Rs 25,000, and for rural locations, it is Rs 10,000. In case account holders fail to meet the MAB, customers will be liable to pay penal charges of 6% of the shortfall in the required MAB, or Rs 500, whichever amount is to the HDFC Bank website, "It is mandatory to maintain a minimum average monthly balance of Rs 10,000 for urban branches, an average monthly balance of Rs 5,000 for semi-urban branches, and an average quarterly balance of Rs 2,500 for rural the MAB is not maintained as required, HDFC Bank charges a penalty of 6% of the shortfall in the average balance requirement, or Rs 600, whichever amount is a Kotak Mahindra Bank Classic Savings Account, customers are required to maintain an average monthly balance (AMB) of Rs 10,000. The AMB is calculated as the sum of the daily closing balances in the account over the month, divided by the number of days in that the maintained balance falls short of the required Rs 10,000, the bank levies a non-maintenance charge equivalent to 6% of the shortfall amount per month, subject to a maximum penalty of Rs 500 per of the YES PRO Plus Savings Account and the YES Essence Savings Account are required to maintain an average monthly balance (AMB) of Rs 25,000. This means that the sum of the daily closing balances in the account over a month, divided by the number of days in that month, should be at least Rs 25,000 to avoid non-maintenance the YES PRO Max Savings Account, the AMB requirement is higher at Rs 50, that average monthly balance will also differ depending on the type of account and services offered by the is no requirement to maintain a minimum balance in a regular savings account at SBI. Since March 2020, SBI has refrained from imposing any penalties for the non-maintenance of the minimum account balance in these accounts. Similarly, Canara Bank has eliminated the average monthly balance requirement for all types of savings bank accounts. Punjab National Bank (PNB) has also announced that it will no longer charge penalties for failing to maintain the minimum average balance in any of its savings accounts.
Mint
a day ago
- Mint
‘90% of India makes less than ₹25,000…': Jay Kotak slams ₹50,000 minimum bank balance rule
ICICI Bank is facing heat after hiking its savings account minimum balance by 5 times, and this time veteran banker Uday Kotak's son Jay Kotak has spoken up against the move. In a post on X without explicitly mentioning the ICICI Bank minimum balance hike, Jay Kotak said 90 per cent of Indians make less than ₹ 25,000 a month. 'Every Indian must access our financial sector. 90% of India makes less than ₹ 25,000 a month. A ₹ 50,000 minimum balance implies a sum equal to ~94% of Indians monthly income is to be left with the bank at all times, else a fee!,' he said. Jay Kotak, who leads Kotak Mahindra Bank's digital banking arm Kotak 811, said digital first is the way to go. 'Implication: physical cost to serve may be high. Digital first is the way. If banks don't do it, fintechs will. Banking should be for all Indians.' The ICICI Bank minimum balance for savings account has been hiked from ₹ 10,000 to ₹ 50,000 for urban accounts. MAB (Minimum Account Balance) for semi-urban locations and rural locations have also been increased five times ₹ ₹ 25,000 and ₹ 10,000, respectively, according to information available on the ICICI Bank website. Non-maintenance of ICICI Bank minimum balance will attract penalty, the bank said. The lender will charge 6 per cent of the shortfall in required MAB, or ₹ 500, whichever is lower, if you stay in an urban area and cannot maintain ₹ 50,000 account balance. The changes are applicable to ICICI Bank savings accounts opened on or after August 1. The minimum balance remains ₹ 5,000 for old customers in rural and semi-urban areas. For old urban customers, the minimum account balance should be maintained at ₹ 10,000. The ICICI Bank minimum balance hike was criticised by many, with social media users calling the move discriminatory and elitist. A user wrote, 'In a country where 23 crore people live below the poverty line, ICICI thinks ₹ 50,000 is a 'minimum'. Masterstroke!' In a letter to the finance secretary, 'Bank Bachao Desh Bachao Manch' termed the private lender's decision as "unjust and regressive". 'This retrograde decision undermines the principle of inclusive banking,' the forum's joint conveners, Biswaranjan Ray and Soumya Datta, claimed.
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Personal loan EMI: What to do immediately after defaulting on a loan? Find out
The Indian banking sector is currently facing a significant uptick in personal loan defaults, most notably in small-ticket loans and rural regions. According to data compiled by the Fintech Association for Consumer Empowerment (FACE), loans overdue for more than 90 days climbed to 3.6% by March 2025. This is the highest in six quarters. Further, the stress is particularly acute among borrowers under the age of 25 and in tier-3 and rural areas, highlighting the challenges faced by young and new-to-credit consumers as financial obligations intensify. Private banks saw bad loan ratios edge up in the April–June 2025 quarter, with Kotak Mahindra Bank's NPA rising to 1.48% and similar stress across the sector. Banks are now focusing on tightening lending, especially for unsecured loans, making it riskier for borrowers. Therefore, in such an environment, missing out on an EMI can hurt creditworthiness and future loan access. Let us hence discuss how a borrower can navigate the current financial climate after defaulting on a personal loan. After defaulting, prompt action is required to limit damage to both your credit profile and borrower integrity. To ensure the same, consider these essential measures: Communicate early with your lender to explain the financial hardship and seek possible relief, such as restructuring or deferred payments. This is very important; ensure that you open up a channel of communication with your respective lending institution. Check for eligibility for EMI holidays or temporary payment deferral. For this, you must reach out to the respective customer support team of your lending institution, so that you can get clear instructions and appropriate guidance on the issue. Explore debt consolidation options if juggling multiple debts. Debt consolidation simply helps in making the entire repayment process smooth and consolidates the loans into one. Seek support from credit counsellors before legal notices escalate. You can also reach out to qualified lawyers for legal help before things get out of hand. Maintain all communication records for future reference. This will be important if, later, your lending institution initiates recovery or takes legal action against you. Borrowers receive formal default notifications. This is followed by recovery agent visits under the RBI guidelines. In such a scenario, discussing the entire process with your respective lending institution is the best way to plan repayment. Continued non-payment beyond 90 days reclassifies the loan as a Non-Performing Asset (NPA), allows lenders to send legal notices, and authorizes civil suits for recovery. Do keep in mind, the process of recovery, if initiated, can be draining emotionally; that is why be careful with debt management right from the start, so that borrowing remains a pleasant experience for you. Penalties, increased interest, wage garnishments, or even asset seizures may be the consequence of defaulting on your personal loans. Your credit scores can plummet by over 150 points within six months, making future loans, credit cards, or other credit instruments very difficult to secure. The Reserve Bank of India encourages amicable settlement of such recovery processes. It mandates fair practices from lenders during the settlement process. That is why early negotiation can sometimes even result in loan restructuring or one-time settlements. For all personal finance updates, visit here. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards, and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks, such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
