After 90 long years of banking, State Bank of Indore (also known as Indore Bank) has now merged into State Bank of India today as per the Gazette Notification issued on July 28 by the Department of Financial Services.
From today all customers of Indore Bank will now be customers of SBI and all branches of State Bank of Indore have started working as branches of State Bank of India.
However, SBI and Indore Bank officials had no record or data as to who was the first customer of the bank but a well placed source at lower-rank said, “Indore bank had opened its first account on 23 March 1920 of a trust and the last account was opened yesterday.”
