India, Aug. 14 -- ICICI Bank minimum balance (MAB) requirements have been revised after an earlier steep hike of Rs.50,000, following "valuable feedback" from the customers, the bank said on Wednesday.

ICICI Bank had raised the minimum account balance requirement for its new savings bank accounts for metro and urban locations opened on or after August 1 five times to Rs.50,000.

MAB is the minimum balance that a customer is required to maintain in a bank account. If the balance falls below the required amount, the bank levies a penalty.

-For metro and urban locations: ICICI Bank has slashed the minimum monthly average balance (MAB) requirement to Rs.15,000 from Rs.50,000.

-For semi urban and rural locations: The MAB for semi-urban and ...