State Bank of Indore

State Bank of Indore (Indore Bank) was a government-owned Indian bank and the largest of State Bank of India's (SBI) six associate bank subsidiaries. 1920 The Bank of Indore was incorporated under a special charter from Maharaja Tukoji Rao Holkar III, who was the ruler from 1903 to 1927 of the former princely state of Indore. Indore State awarded the Bank a monopoly for 10 years, granted it certain concessions and subscribed to the Bank's share capital. Indore Bank's main branch and headquarters was in the city of Indore, located on the Malwa Plateau, just north of the Vindhya Range.1960 The Bank of Indore became a subsidiary of State Bank of India w.e.f. 1 January 1960 under the name State Bank of Indore. Prior to the merger, SBI held a 98.05% stake in Indore Bank,

 In October 2009, the Government of India gave its in-principle approval to a merger between State Bank of India and State Bank of Indore. On 15th July 2010 the Cabinet cleared the merger. On 26th August 2010 State Bank of Indore officially merged into State Bank of India.

At the time of the merger the bank had over 470 branches in more than 300 cities and towns. In March 2009, the business turnover of State Bank of Indore crossed Rs.50000 crore.

Merger was welcomed by the sundry staff and officers of the bank as they saw it as step towards assimilation with parent bank. But within a short duration this enthusiasm gave way to the harsh realities of cross-cultural differences. According to various reports there is great unrest amongst the officers of erstwhile State Bank of Indore on the dual treatment being meted out to them. The step motherly treatment enumerated by them in this regard are:

1)Their seniority vis-a-vis State Bank of India officers have been reduced drastically despite the fact that promotion channels were already faster in State Bank of India in comparison to any associate bank. For example a PO who joined SBI in year 2000 is at scale IV where as an Officer who joined State Bank of India as PO in the same year is still languishing in Scale II. This difference is humiliating as well as unjustified because the same Central Recruitment and Promotion Department recruits and conducts the exam for both of them.

2) While the PO's and TO's of State bank of India have been given four additional increments where as the same has not been extended to e-SBN officers.

3) The employees and staff of SBI have been given 6.50% hike in the form of balancing amouunt to all the employees but the same has not been given to State Bank of Indore employees. And this disparity is when there is no difference between Services terms and conditions and responsibilities. Law of natural justice has been severely compromised and same rank , same pay principle has been tossed to the wind.