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. 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... Read More