Business EconomyPosted at: Aug 14 2025 12:07PM


ICICI Bank cuts MAB requirement from Rs 50k to Rs 15k amid customer criticisms

New Delhi, Aug 14 (UNI) 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 for their continued trust and feedback, which helps us serve them better.”
Under the new revision, which will come into effect from September 1, the bank has set the limit of 15,000 minimum average balance (MAB) for people living in metros and urban locations. Moreover, customers living in semi-urban and rural areas need to maintain a minimum average balance of Rs 7,500 and Rs 2,500, respectively.
In case if the customer fails to meet the MAB requirement, then the bank will charge about 6 per cent of the shortfall or Rs 500, whichever is lower.
Generally, banks establish minimum balance requirements to ensure account stability and customer benefits. The MAB requirement is crucial as it allows banks to manage funds, offer services, and potentially provide a reward to customers.
ICICI Bank reversed its earlier decision due to the customer backlash and feedback received from experts. Moreover, many customers also termed the bank’s move as ‘Elitist’ and they argued that it had excluded low and average-income individuals.
Experts also pointed out this move as the bank's push towards premiumization and the intent of selling their exclusive offers and services to the customers.
UNI SAS AAB
Please log in to get detailed story.
Tags: #ICICI Bank cuts MAB requirement from Rs 50k to Rs 15k amid customer criticisms
More News

Amazon Bazaar records 5X growth in TN

14 May 2026 | 5:18 PM

Chennai, May 14 (UNI) Amazon.in on Thursday announced that Tamil Nadu has emerged as one of the fastest-growing States for Amazon Bazaar as orders from the State have increased 5X YoY, with the teeming megapolis of Chennai leading the charge with a 2X increase in new customer sign-ups.

see more..

CII Green Cementech 2026 focuses on net-zero roadmap for cement industry

14 May 2026 | 5:13 PM

Hyderabad, May 14 (UNI) The 22nd edition of Green Cementech 2026, the flagship annual conference and expo for the cement industry, organised by the CII-Green Business Centre in partnership with the Cement Manufacturers Association, commenced at the Hyderabad International Convention Centre (HICC) on Thursday with a strong focus on sustainable and low-carbon cement manufacturing.

see more..

CIEL HR records 32 pc growth in FY26, Revenue nears Rs 2,000 cr, unveils CIEL 3 0 : Vision 2030

14 May 2026 | 4:53 PM

Chennai, May 14 (UNI) CIEL HR, India’s leading integrated HR and workforce solutions company, on Thursday announced that it recorded 32% growth in FY26, with revenues nearing Rs 2,000 crore, alongside the launch of “CIEL 3.0: Vision 2030”, the company’s strategic roadmap to build an integrated AI-led workforce infrastructure platform for the future of work.

see more..

Indian cement industry reduced carbon footprint by over 40 pc in two decades: E R Raj Narayanan

14 May 2026 | 4:26 PM

Hyderabad, May 14 (UNI) The Indian cement industry has reduced its carbon footprint by more than 40 per cent over the last two to three decades through energy efficiency, use of alternative fuels, renewable energy, and technological interventions, according to E R Raj Narayanan, Co-Chairman- Green Cementech 2026, Business Head & Chief Manufacturing Officer- UltraTech Cement Limited.

see more..

PM's UAE-Europe tour to boost India's trade, investment ties: FIEO

14 May 2026 | 3:37 PM

Hyderabad, May 14 (UNI) The Federation of Indian Export Organisations (FIEO) on Thursday welcomed Prime Minister Narendra Modi's upcoming multi-nation visit to the United Arab Emirates, Netherlands, Sweden, Norway and Italy from May 15-20 stating that the visit is expected to significantly strengthen India's trade, investment and technology partnerships with key global economies.

see more..