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Totally depends on career preference. If you don't have much substantial need for money for now and can work on same CTC, PM role is good. (Provided you can move from PM role at ICICI to some other customer centric product firm).
There are few challenges I see:
-Learning curve would be very steep. Product design, case studies, SQL (if you intend to move to slightly tech based products). At least one year you have to understand in an out of the new team/oppt you have been transitioned to before considering a meaningful switch.
-After 5-6 YOE in Product industry, people generally reach Product manager roles. Why? APMs are hired from campuses directly these days. If you are able to sell your entire experience then it would be nice otherwise you might not be directly getting such roles and might require to start from Sr. APM or similar role in hierarchy and then make your way. If you are content with that, that would be good. You will find Manager roles for you but its good to be prepared for all scenarios.
-Opportunity Cost: If you take next 1-1.5 years to learn, you would be losing on the increased CTC amount that Infy is offering.
TL;DR: If you are fine with banking domain and take that as long term option, further don't want to sacrifice money -> Go Infy
If you aspire to be a PM someday and can overlook on the increased CTC for next 1 year atleast, go for new oppty. at your firm. (Provided you are confident of future prospects, because you didn't mention nature of new work and PM roles vary differently a lot)
I am going to take your advicre and reach out to internal as well as exterbal folks.
Many thanks!!