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ICICI Bank Reduces Minimum Balance Requirement After Public Outrage

Kumari Sonali

ICICI Bank Reduces Minimum Balance Requirement After Public Outrage:

ICICI Bank, India’s second-largest private lender, has revised its minimum average balance (MAB) requirement for new savings account holders after facing widespread criticism. The bank had recently raised the MAB from ₹10,000 to ₹50,000 for new customers in urban areas, but public backlash forced a rollback. As of now, the new MAB for urban customers has been reduced to ₹15,000.The initial hike to ₹50,000 was announced just days earlier, drawing negative reactions from customers and financial experts alike. Critics argued that the increase was excessive, especially when compared to other banks that have either lowered MAB thresholds or eliminated them altogether.

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