History State Bank of Indore popularly known as Indore Bank in Malwa Region, originally known as Bank of Indore Ltd. was incorporated under a special charter of His Highness Maharaja Tukojirao Holker-III, the then ruler of this region. In terms of State Bank of India (Subsidiary Banks) Act, 1959 the Bank of Indore Ltd. became a subsidiary of State Bank of India w.e.f. 1st January 1960 and was renamed as State Bank of Indore The Bank acquired business of The Bank of Dewas Ltd. in 1962 and The Dewas Senior Bank Ltd. in 1965 and was up-graded to class 'A' category bank in 1971. Ever since the Bank has been making steady progress and at the end of Mar. 2009, the business turnover has crossed Rs.50000 crore Vision Statement To continue to play our role as an important Financial Institution for the development of the economy with national perspective by exacting standards of professionalism, efficiency and values, creating a highly challenging and techno-savvy work environment for enhancing customer satisfaction and maximizing 'stake-holders' value through quality assets and sustained profitability. Corporate Objectives State Bank of Indore has been able to make its mark in all facets of banking operations, be it traditional, developmental or innovative. In the medium term, the Bank's corporate objectives are To continue to be the premier Bank of Madhya Pradesh with a national perspective, ensuring progressive corporate excellence using state of the art technology. To create and maintain assets of quality so as to emerge as a healthier and stronger Bank as per parameters of international standards, while maintaining the social orientation and national objectives. To emerge as an important component and strong representative of State Bank Group in its 'core area' of operation and carve out a well defined position within the group. To provide impeccable and progressively better customer service with total involvement of staff.