Business

ICICI Bank's announcement last week had raised the MAB to Rs 50,000, which was in contrast to other banks that have rationalised their penalties. New Delhi: The ICICI Bank on Wednesday slashed the minimum balance for new savings accounts to Rs 15,000 from Rs 50,000 following significant customer pushback against an earlier steep hike that had sparked widespread outrage. New MAB thresholds set at Rs 15,000 The bank has now set the MAB thresholds at Rs 15,000 for customers in metro and urban areas, Rs 7,500 for semi-urban customers, and Rs 2,500 for rural account holders. The bank customers…

The company has informed exchanges that it has received BIS Certificates for the following products from the Bureau of Indian Standards, New Delhi. Mumbai: Shares of MIC Electronics Limited (MICEL) gained on Wednesday after the company informed exchanges that it has received BIS Certificates for two products from the Bureau of Indian Standards. The counter opened in green at Rs 46.16 on the BSE against the previous close of Rs 46.10. The stock gained further to touch the high of Rs 47.39. Also, it touched a low of Rs 45.44.  On the National Stock Exchange (NSE), the stock opened at…