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State Bank of Indore

State Bank of Indore is a subsidiary of State Bank of India. The Bank was originally known as Bank of Indore Ltd. The Bank was incorporated under a special charter of His Highness Maharaja Tukojirao Holker-III, the then ruler of Malwa region.

The Bank of Indore Ltd. became a subsidiary of State Bank of India with effect from 1st January 1960 and was renamed as State Bank of Indore. Since then, the Bank has been making steady progress. State Bank of Indore acquired The Bank of Dewas Ltd. in 1962 and The Dewas Senior Bank Ltd. in 1965. State Bank of Indore was up-graded to class ‘A’ category bank in 1971. During the year 2004-2005 the Bank’s turnover crossed Rs.23000 crore.

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