Definition 1 of 2
Literally, pole. Referred as such out of respect for it's majestic bearing - the pride of place it might hold in the hearts of wayward youths.
Usage in Bambaiya.
(Join me this evening. I'll bring the bottle of alcohol. You bring the biryani.)
"Daily khamba utarega. Uske baad full tight!" (Daily, he consumes one khamba. And gets totally drunk."