What is the new monthly average balance policy?

One of the friends wants to open an account in Niyo IDFC but the app says it requires to maintain a ₹ 10,000 monthly average balance but, I think the monthly average balance policy was updated and there was no monthly average balance. What is the new monthly average balance policy and what is the penalty for not maintaining MAB?

Hey Sai! Welcome back to the Niyo Community. Please note that there is no minimum balance requirement for the Niyo IDFC FIRST Savings account. And so there is no penalty for not maintaining minimum balance. SR

But in the app, it shows ₹10,000 mab required. if there is no such mab when it will be updated in the app.

Hey Sai, please rest assured, there is no MAB for the Niyo IDFC account. We have forwarded your feedback about updating the same in the app. We will let you know as and when it happens. SR

Hope to see this in the next update