Not thuggery—ICICI Bank’s account hike exposes a brewing banking shake-up
The bank’s response to the backlash was swift: it tempered the quantum of the hike to 50%, setting it at a considerably lower ₹15,000. The quick damage control was probably sufficient to soothe customer outrage. However, it would be wrong to view the move as “loot, thuggery of the middle class”, as alleged by some