ICICI Bank slashes notice period by two months upon requests

The revised rules are going to come into force from June 17 and will be applicable to only employees below the MMII grade. 

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ICICI Bank has issued a notice to a few of its employees reducing their notice period from 90 days to 30 days The new notice period is going to come into effect from June 17 onwards, the private lender stated in an internal communication to its employees. 

HRKtha reached out to ICICI Bank however the Bank refused to comment on this. 

According to sources this decision will be applicable to a few employees in managerial positions of its internal MMII grade and below. 

The bank stated in its internal memo, “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.” 

It further added that, “taking cognizance of these requests, 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.”

According to the memo, the revised rules regarding notice period were applicable to the employees in probation as well. It said, “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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