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India.com
a minute ago
- India.com
Good news for ICICI bank customers as private lender reduces minimum balance requirements for...
ICICI Bank Minimum account Balance New Delhi: Facing widespread outrage, private lender ICICI Bank on Wednesday partially reversed its minimum average balance (MAB) requirements from Rs 50,000 to Rs 15,000 for new customers in Metro and urban areas. The revision came after a pushback from customers and days after the second-largest bank in the country raised the MAB requirement from Rs 10,000 to Rs 50,000 for new customers in urban cities. The minimum balance that new ICICI Bank customers in semi-urban areas must maintain has also been reduced to Rs 7,500 from Rs 25,000. For rural locations, the MAB has been reduced to Rs 2,500 from Rs 10,000 as recommended earlier. However, the bank has clarified that if customers keep a balance less than the prescribed limit in their account, then they will have to pay a penalty. Earlier in the day, HDFC Bank followed suit by elevating MAB to Rs 25,000, effective from August 1, 2025, for new savings account holders. As per the HDFC Bank updated terms, account holders should maintain a Rs 25,000 balance. For urban and metro bank branches, the penalty is calculated as 6 per cent of the shortfall or Rs 600, whichever is lower. Major lenders like SBI, PNB, and Canara Bank have removed the minimum balance requirement for savings accounts, while also removing penalty charges for non-maintenance. Meanwhile, Reserve Bank of India (RBI) Governor Sanjay Malhotra has said that the minimum balance limit for savings accounts will be decided by banks as the decision does not fall under any regulatory jurisdiction, after India's second-largest lender, ICICI Bank, raised the monthly minimum average balance requirement for all customer segments. He further said that some banks have fixed this limit at Rs 10,000, while some banks have kept this limit at Rs 2,000 for customers. However, there are many banks that have completely removed it for their customers. 'This decision does not fall under the regulatory domain,' he clarified. According to an earlier ICICI Bank's decision, customers at metro and urban locations who opened their savings accounts on or after August 1 had to maintain a Rs 50,000 monthly average balance to avoid penalties. The minimum average balance for older customers remained Rs 10,000.
Pink Villa
a minute ago
- Pink Villa
Mahavatar Narsimha 3rd Wednesday Hindi Box Office: Hombale's movie nets Rs 2.5 crore, to welcome Coolie and War 2 tomorrow
Mahavatar Narsimha has been a massive box office success. Its performance has been a landmark achievement, setting a new benchmark for animated films in Indian cinema. Directed by Ashwin Kumar, the blockbuster animated movie has scored quite well, particularly in the Hindi-speaking markets. Here's what Day 20 of Mahavatar Narsimha looked like. Mahavatar Narsimha adds Rs 2.5 crore on Day 20 in Hindi Jointly backed under the banners of Hombale Films and Kleem Productions, Mahavatar Narsimha has been maintaining a good hold in the Hindi markets since its release. Ashwin Kumar's directorial has added Rs 2.5 crore to its net box office collection on the third Wednesday. It comes after the blockbuster animated film witnessed growth yesterday due to the Tuesday discount facility in cinemas. The first and second week collections of Mahavatar Narsimha stood at Rs 29 crore and Rs 50 crore, respectively. In the third weekend, Hombale Films production recorded Rs 34 crore. Touted as the highest-grossing animated movie in India, it now boasts a cumulative collection of Rs 122.5 crore net in the nation. Note: The collections exclude 3D handling charges Mahavatar Narsimha to face a reduction in shows after War 2 and Coolie's arrival Mahavatar Narsimha has one day left before it runs parallel to the Independence Day weekend arrivals, War 2 and Coolie. Ashwin Kumar's movie is expected to have a reduction in its shows in Hindi markets starting from tomorrow. While the Hrithik Roshan -starrer is eyeing an opening of Rs 35 crore, the Rajinikanth-led film will likely start its journey at Rs 6 crore in Hindi. Mahavatar Narsimha in theaters Mahavatar Narsimha plays in theaters now. Tickets for the movie can be booked from the box office or online ticketing applications and websites. Stay tuned to Pinkvilla for more updates. Disclaimer: The box office figures are compiled from various sources and our research. The figures can be approximate, and Pinkvilla does not make any claims about the authenticity of the data. However, they are adequately indicative of the box-office performance of the films in question.
Time of India
5 minutes ago
- Time of India
ICICI Bank cuts minimum balance requirement after customer feedback
Synopsis ICICI Bank has significantly lowered its minimum average balance requirement for savings accounts, responding to customer feedback. The revised MAB now stands at Rs 15,000 for metro and urban areas, with lower thresholds for semi-urban and rural locations. This decision contrasts with moves by several state-owned banks to eliminate such penalties altogether, while HDFC Bank maintains its existing balance norms.
