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MAB – The archaic Banking construct that must go…

Yesterday, one of the mid-sized Indian Banks with a focus on increasing retail deposits charged me for non-maintenance of Minimum Account Balance (MAB). One of the Term Deposits (TD) matured and the Bank charged me for non-maintenance of MAB for the last 3 months at one go after the maturity proceeds were credited to my account. Trivial issue in terms of the amounts involved but one having far reaching consequences in terms of customer positioning and churn; especially in the…

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