ICICI Bank has reduced the minimum average balance requirement for new urban and metro savings accounts from Rs 50,000 to Rs 15,000.
The move comes after widespread public outrage and criticism across social media platforms, particularly X (formerly Twitter), where users expressed concern over the steep hike introduced earlier this month.
The initial increase—from ₹10,000 to Rs 50,000—was seen as exclusionary and burdensome, especially for middle-income and salaried account holders. Financial experts and consumer advocates highlighted the potential impact on banking accessibility and customer retention.
Responding to the backlash, ICICI Bank clarified that the revised ₹15,000 minimum balance applies only to new accounts opened after August 1, 2025. Existing account holders will continue under previous terms, offering some relief to long-time customers.
Industry analysts suggest that the rollback reflects a growing trend of consumer influence on banking policies, especially in the digital age, where public sentiment can rapidly shape corporate decisions.
The bank has yet to comment on whether penalties for non-maintenance will also be adjusted, but sources indicate a broader review of fee structures may be underway.
