ICICI Bank: Employee Notice Period Reduces to One Month

ICICI Bank has reduced the employee notice period to one month from the existing three months –  Private lender ICICI Bank has informed their employees, the reduction in notice period to 30 days in case of resignation. The new rules will be effective from June 17 and will apply to employees in Managerial positions of its internal MMII grade and below. The revised notice period will also apply to employees in probationary.

Bank has also added that If employees want to be relieved earlier than 30 days, they may request for the same and with the supervisor consent agree on a suitable date.

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ICICI bank has justified the decision and said that it was done after receiving requests from employees.

We have received multiple requests from employees who have chosen to resign from services and faced difficulty in serving the 90 day notice period due to various constraints created by the current situation, said the lender, further adding, taking cognisance of these request, effective 17 June 2020, employees in grades MMII & Below who decide to resign will be required to serve a maximum of 30 days’ notice period.

An ICICI Bank has strongly said that the policy was not brought about due to the COVID-19 pandemic or the resultant lockdown. The source on the condition of anonymity said this was rather due to the requests of employees serving their notice period. ICICI bank has confirmed that the is not going to layoff a single employee.