Kolkata KOLKATA: A civil society organisation advocating the interests of banking stakeholders has written to the Finance Ministry requesting it to intervene in ICICI Bank’s decision to increase the minimum average balance (MAB) requirement for new savings accounts.
The organisation has said that the move is detrimental to the government’s vision of inclusive banking and development. In a letter to the Finance Secretary, the ‘Bank Bachao Desh Bachao Manch’ has termed the private lender’s decision as “unjust and regressive”. The bank has increased the minimum balance requirement for new savings accounts opened on or after August 1 by five times to Rs 50,000. The minimum monthly average balance (MAB) in savings bank accounts for ICICI Bank customers till July 31, 2025 was Rs 10,000.
Civil society surrounded ICICI bank over increased limit on savings accounts
