New Delhi: Facing backlash from customers, ICICI Bank has rolled back its recently hiked minimum average balance (MAB) requirements for new savings account holders, especially in urban areas.

Earlier this month, the bank had sharply raised the MAB for new customers in urban areas from ₹10,000 to ₹50,000. Following criticism, ICICI has now revised the requirement down to ₹15,000, a partial rollback, though still ₹5,000 higher than the original ₹10,000.

For semi-urban areas, the MAB for new customers has been slashed from ₹25,000 to ₹7,500.

Meanwhile, existing customers in rural and semi-urban regions will see no changes. Their MAB continues to remain at ₹5,000.

What has changed?

Urban (new customers): MAB revised from ₹50,000 to ₹15,000 (earlier ₹10,000)

Semi-urban (new customers): MAB cut from ₹25,000 to ₹7,500

Rural and semi-urban (existing customers): No change; remains at ₹5,000

ICICI Bank, one of India’s leading private sector banks, faced criticism for imposing steep balance requirements, which many argued were excessive for average savers.

The revised norms aim to strike a balance between customer affordability and operational efficiency.