Independent Indore Bank mooted | india | Hindustan Times
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Independent Indore Bank mooted

SEVERAL PROMINENT citizens of Indore under the banner of Abhyas Mandal passed a resolution today that they would stall State Bank of India?s move to merge State Bank of Indore and work to make the latter an independent and autonomous entity.

india Updated: Apr 10, 2006 14:49 IST

SEVERAL PROMINENT citizens of Indore under the banner of Abhyas Mandal passed a resolution today that they would stall State Bank of India’s move to merge State Bank of Indore and work to make the latter an independent and autonomous entity.

The participants included leading businessmen, social workers, journalists, doctors, politicians, lawyers, sportspersons and bankers who were unanimous in their view that it was time to delink State Bank of Indore from SBI and unshackle it from its ‘corporate slavery’.

The participants chalked out a multi-pronged strategy to meet their objective by launching public agitation and, challenging the validity of SBI’s move in the court. They insisted that SBI had no right to take unilateral decision for merger and opinion of local residents was equally important.

Those present at the meeting included social worker Babulal Patodi, senior journalist Jawaharlal Rathore, politicians Rajendra Dharkar, Jagatnarayan Joshi, Shrivallabh Sharma, Lalit Jain, Dr G S Sipaha, Dr Savita Inamdar, Haji Mahidpurwala, Babulal Baheti, Indore High Court Bar Association president P K Shukla, cricket commentator Sushil Doshi, All India Bank Officers Association president Alok Khare among others.

SBI, apparently, has already submitted a proposal to merge its seven subsidiary banks including State Bank of Indore. The Union cabinet has passed this proposal and has placed it before Parliament for clearance.