ICICI Bank cuts MAB requirement from Rs 50k to Rs 15k amid customer criticisms
New Delhi, Aug. 14 -- ICICI Bank has reversed its recent decision of maintaining a minimum average balance (MAB) of Rs 50,000 for customers living in metros or urban areas. The Bank also reversed the MAB requirements for customers living in semi-urban and rural areas.
On July 31, ICICI bank announced the steep hikes in MAB and set them at Rs 50,000 for customers living in metros, Rs 25,000 in semi-urban, and Rs 10,000 in rural areas. The Bank's move faced major criticism from customers as it was more than their counterparts like HDFC.
ICICI Bank posted on their official website, " Following valuable feedback from our customers, we have revised these requirements to better reflect their expectations and preferences. We thank our customers fo...
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