ICICI Bank Raises Average MAB Requirement for New Savings Accounts to ₹15,000

[Sushubh]

RBI Governor on ICICI Bank’s ₹50,000 minimum balance rule: ‘Not our regulatory domain’

RBI chief Sanjay Malhotra clarifies on ICICI’s ₹50,000 MAB, announces PMJDY re-KYC for 10 crore accounts, and urges digital banking adoption.

www.thehindubusinessline.com

 

[Navjot Singh]

Great.

 

[Sushubh]

i mean makes sense. rbi could have intervened if they had applied the new limits on existing customer base.

 

[Deleted member 87056]

Did they apply the MAB criteria on new customers only or existing customers as well?
Last time I tried opening a savings account with ICICI, they asked me to deposit 1 lakh rupees for their privilege banking services. The executive told me to maintain 1 lakh MAB for a month or two after that it will be zero balance, when I asked him to give written proof, he refrained from providing any such thing.
I just hope HDFC doesn't implement the same criteria for savings account holders.

 

[laksh211in]

ICICI Bank lowers minimum balance for savings accounts after outrage now it has backed down saying customer feedback people will leave the bank simple

 

[Kyle Crane]

someone on reddit posted "Icici bank now reduce Minimum balance rule … after Huge protest"

to which i replied

 

[Kyle Crane]

HSBC asked my brother to have minimum balance of 1,50,000 to open a account with them

 

[mhsabir]

Source

 

[Navjot Singh]

ICICI achieved what they wanted to achieve. For now the minimum requirement has gone up

Rs 10000 to Rs 15000 for Metro
Rs 5000 to Rs 7500 for semi-urban
Rs 1000 to Rs 2500 for rural

From the looks of it, HDFC will be next. Also @mhsabir what's with the movie here? lol

 

[Kyle Crane]

Forget icici news

Here watch this movie - @mhsabir