Standing orders are regulated by the law of Industrial Employment (Standing Orders) Act, 1946. These standing orders are meant for "workmen" as defined under Industrial Disputes Act, 1947. The workman does not include in its definition employees working in managerial or administrative capacity or who, being employed in supervisory capacity, draws wages exceeding ten thousand rupees per month.
However there is no bar for any employer to prepare standing orders for their employees other than workmen which in its ambit include service regulations, conduct rules, DA regulations, Matters relating to termination of employment etc. though there is no statutory obligation under Industrial Employment (Standing orders) Act, 1946.
Every organization/company/bank can have its own set of service regulations depending on its convenience, courts normally do not interfere in these rules unless these service regulations, rules etc are against any existing provisions of legislations or against principles of natural justice.