An automatic retinal vessel segmentation method is proposed for quick and accurate segmentation of eye vessels. Such a method would play a vital role in analyzing many eye diseases. A retinal fundus image contains varying low contrasts, which undermine the performance of the segmentation process. Independent component analysis (ICA) is largely used for noise removal and consists of two architectures, designated as ICA1 and ICA2. We have validated both ICA architectures on retinal color fundus images and selected the one that provides improved contrast values. For retinal fundus, ICA2 architecture performed better than ICA1 by virtue of being more effective in compensating the low contrast values. Experiments conducted here validated the improvements over previously reported state-of-the-art methods. The impact of proposed segmentation model was assessed on publicly available databases like DRIVE and STARE. In case of the DRIVE database, the sensitivity increased 3% by (from 72% to 75%) while maintaining a segmentation accuracy of around 96%.