ICICI Bank lowers revised minimum balance requirement for savings accounts:

ICICI Bank, India’s second-largest private sector bank, has rolled back its earlier decision to raise the minimum monthly average balance (MAB) for new savings accounts in metro and urban areas to ₹50,000, setting the requirement instead at ₹15,000 from August 1. For semi-urban areas, the MAB has been reduced from ₹25,000 to ₹7,500, and for rural branches from ₹10,000 to ₹2,500. RBI Governor Sanjay Malhotra has clarified that banks are free to decide MAB levels, as no regulatory restrictions exist in this regard.