<h1>Civil society urges Finance Ministry to stop private bank's fivefold hike in minimum savings balance under financial inclusion goals</h1> A civil society organization representing banking stakeholders has urged the Finance Ministry to intervene against a private bank's decision to increase the minimum average balance (MAB) for new savings accounts fivefold, from Rs 10,000 to Rs 50,000, effective August 1. The organization argued that this hike, which also raised MAB requirements in semi-urban and rural areas, contradicts the government's goals of inclusive banking and financial growth. They described the move as unjust and regressive, calling for its immediate reversal to protect depositors and promote broader financial inclusion. Public sector banks typically maintain lower or waived balance requirements, contrasting with the private lender's approach, which may impose penalties for non-compliance.