In a U-turn, ICICI Bank has slashed the minimum monthly average balance (MAB) requirement to Rs 15,000 from earlier steep hike of Rs 50,000, citing "valuable feedback" from customers.
The minimum balance requirement for its new savings bank accounts opened on or after August 1 was raised five times to Rs 50,000.
"Following valuable feedback from our customers, we have revised these requirements to better reflect their expectations and preferences. We thank our customers for their continued trust and feedback, which help us serve them better," ICICI Bank posted on its website.
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