ICICI to double saving acct minimum avg balance to 10,000 rupee Jul

[K.Karthik Raja]

ICICI to double saving acct minimum avg balance to 10,000 rupee Jul
Tuesday, Apr 15

ICICI Bank has doubled the minimum quarterly average balance
to be maintained in a savings account to 10,000 rupees from 5,000
rupees now.
The bank has sent a notice to its customers informing them about the
same.
The change is effective from Jul 1.
"As per the existing terms governing your savings account, non-
maintenance of quarterly average balance in any quarter attracts a
charge of 750 rupees (plus service tax as applicable, currently
12.36%) or such other charges as may be made applicable from time to
time," the notice said.
The bank had 1,350 branches and 3,850 automated teller machines as
on Mar 31, up from 750 branches and 3,335 ATMs as on Mar 31, 2007.
At 10:26AM, ICICI Bank shares were at 783 rupees, down 0.64% from
the previous close, on the National Stock Exchange. End