Board Resolution Format for Kyc Updation Idbi Bank

INSTITUTIONAL CORPORATE BOARD RESOLUTION

Document ID: COR-BR-IDBI-KYC-2026-V1
Effective Date: [Effective Date]
Version: 1.0
Governing Jurisdiction: Republic of India

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1. STATUTORY & LEGAL COMPLIANCE NOTICE

DISCLAIMER: This legal instrument is drafted to meet the institutional standards of the Companies Act, 2013 (and any amendments thereto) and the regulatory mandates prescribed by the Reserve Bank of India (RBI) and IDBI Bank Limited for Know Your Customer (KYC) compliance, periodic updation, and corporate account operations. This document must be customized with the exact corporate details of [Company Full Legal Name] prior to formal execution. Legal counsel and company secretaries must ensure that the quorum and voting thresholds comply with the company’s Articles of Association (AoA) and Memorandums of Association (MoA).

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2. PARTIES & RECITALS

THIS EXTRACT OF THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS of [Company Full Legal Name], having its registered principal office at [Principal Address] (hereinafter referred to as the "Company"), held on [Effective Date] at [Time] hours.

RECITALS:

1. WHEREAS, the Company maintains one or more current, savings, loan, or credit accounts with IDBI Bank Limited (hereinafter referred to as the "Bank");
2. WHEREAS, pursuant to the statutory directives of the Reserve Bank of India (RBI) Master Direction on Know Your Customer (KYC) Directions, 2016 (as amended from time to time), the Prevention of Money Laundering Act, 2002 (PMLA), and internal operational policies of IDBI Bank Limited, the Company is legally obligated to periodically update, verify, and authenticate its KYC records, corporate documentation, beneficial ownership details, and authorized signatories;
3. WHEREAS, to ensure uninterrupted banking operations, trade finance facilities, credit lines, and transactional capabilities with IDBI Bank Limited, it is expedient to authorize specific directors, officers, or designated representatives of the Company to execute all requisite documentation, submit physical or digital disclosures, and interact with the Bank for the purpose of KYC updation.

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3. EXHAUSTIVE OPERATIVE CLAUSES & RESOLUTIONS

SECTION 1: MANDATORY APPROVAL OF PERIODIC KYC UPDATION

1.1 Approval of Updation: RESOLVED THAT the Board of Directors of the Company do and hereby accord its formal approval for the periodic updation, re-verification, and submission of corporate Know Your Customer (KYC) documents, beneficial ownership details, and related compliance information to IDBI Bank Limited in respect of all existing bank accounts, credit facilities, lockers, and trade finance instruments held with the Bank.

1.2 Completeness of Records: FURTHER RESOLVED THAT the officers and authorized representatives of the Company are empowered to submit all mandatory statutory documents, including but not limited to the Certificate of Incorporation, Memorandum and Articles of Association, PAN Card, GST Registration, Board Resolutions, list of current Directors, registered office address proof, and Audited Financial Statements for the preceding [Number] financial years, as may be demanded by IDBI Bank Limited.

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SECTION 2: AUTHORIZATION OF DESIGNATED SIGNATORIES

2.1 Delegation of Authority: RESOLVED THAT the following operational officers, directors, or authorized signatories of the Company (collectively, the "Authorized Signatories"), be and are hereby severally or jointly authorized to represent the Company before IDBI Bank Limited, execute all necessary KYC forms, self-certify documents, provide biometric or digital authentication (Aadhaar e-KYC/Digital Signature Certificates), and complete all procedural formalities required for the successful updation of KYC records:

2.2 Scope of Empowered Actions: The aforementioned Authorized Signatories are specifically authorized to:

• Execute and deliver KYC application forms, declaration forms, customer profile questionnaires, and FATCA/CRS declarations required by IDBI Bank Limited.
• Furnish certified true copies of resolutions, statutory registers, and shareholding patterns establishing the Ultimate Beneficial Ownership (UBO) of the Company in accordance with Rule 9ID of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005.
• Resolve discrepancies, sign remediation letters, and provide clarifications regarding any mismatch in data or documentation flagged by the compliance department of IDBI Bank Limited.

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SECTION 3: DECLARATION OF BENEFICIAL OWNERSHIP

3.1 Compliance with UBO Rules: RESOLVED THAT pursuant to the PMLA rules, the Company hereby declares that the natural persons holding controlling ownership interest, voting rights, or exercising control through other means in the Company are as disclosed in the Annexure appended to this resolution.

3.2 Duty to Notify: FURTHER RESOLVED THAT the Company undertakes to immediately notify IDBI Bank Limited in writing within [Number] days of any subsequent changes, modifications, or alterations in the shareholding pattern, directorship, or beneficial ownership structure of the Company.

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SECTION 4: RATIFICATION OF PRIOR ACTS

4.1 Ratification: RESOLVED THAT all acts, deeds, matters, and things done, executed, or submitted by any Director, Company Secretary, or Authorized Signatory of the Company prior to the date of this Resolution in connection with the interim compliance, document submission, or communication with IDBI Bank Limited regarding KYC updation be and are hereby ratified, confirmed, and approved as the official acts and deeds of the Company.

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SECTION 5: DUTY OF THE COMPANY SECRETARY / DIRECTOR TO CERTIFY

5.1 Issuance of Certified Copies: RESOLVED THAT [Name of Certifying Officer], [Designation, e.g., Company Secretary / Director] of the Company, be and is hereby authorized to issue certified true copies of this Resolution under the common seal (if applicable) of the Company to IDBI Bank Limited, and that the Bank may act upon such certified copy as conclusive evidence of the authority granted herein until receipt of written notice of revocation from the Company.

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4. MISCELLANEOUS & GENERAL PROVISIONS

4.1 Severability: If any provision of this Resolution is held to be invalid, illegal, or unenforceable under any applicable law, such provision shall be deemed modified to the minimum extent necessary to make it valid and enforceable, and the remaining provisions shall remain in full force and effect.

4.2 Binding Effect: This Resolution shall remain valid, binding, and effective upon the Company until such time as a fresh resolution superseding this instrument is formally passed by the Board of Directors of the Company and a certified copy thereof is officially lodged with IDBI Bank Limited.

4.3 Governing Law: This document and all matters arising out of or relating to this Resolution shall be governed by, construed, and enforced in accordance with the laws of the Republic of India, without regard to its conflict of laws principles. The courts located at [City/Jurisdiction] shall possess exclusive jurisdiction over all disputes arising herefrom.

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5. EXECUTION & FORMAL SIGNATURE BLOCKS

IN WITNESS WHEREOF, the Directors of the Company have hereunto subscribed their names and affixed their signatures in confirmation of the adoption of the foregoing resolution on this [Date] day of [Month], [Year] at [Location].

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________
Printed Name: [Authorized Signatory Name]
Title: [Title / Role, e.g., Managing Director]
Company: [Company Legal Name]
Date: [Date]

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Signature: _____________________________________
Printed Name: [Second Director Name]
Title: [Title / Role, e.g., Director]
Company: [Company Legal Name]
Date: [Date]

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CERTIFIED TRUE COPY

ATTESTED BY:

Signature: _____________________________________
Printed Name: [Name of Company Secretary / Director]
Title: [Company Secretary / Director]
Membership No. (if applicable): [ICSI Membership No.]
Date: [Date]

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6. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Document Customization: Replace all bracketed placeholders (e.g., [Company Full Legal Name], [Effective Date], etc.) in Microsoft Word or Google Docs with precise, verified corporate data matching the records registered with the Ministry of Corporate Affairs (MCA) and IDBI Bank Limited.
2. Authority Verification: Verify that the meeting of the Board of Directors met the necessary quorum requirements as mandated by the Company’s Articles of Association and Section 174 of the Companies Act, 2013, before passing this resolution.
3. Signatory Verification: Ensure that the individuals executing the resolution and signing as Authorized Signatories possess valid Digital Signature Certificates (DSC) if executing electronically, or physical wet-ink signing authority.
4. Execution via Digital/Physical Means:
   • Execute on company letterhead.
   • If using electronic signing platforms (e.g., DocuSign, Adobe Sign, or Aadhaar e-Sign), ensure compliance with the Information Technology Act, 2000.
   • Secure the signature of the Company Secretary or a designated Director on the "Certified True Copy" block.
5. Bank Submission: Submit the executed physical document or certified digital copy directly to the home branch or corporate relationship manager of IDBI Bank Limited along with accompanying self-certified KYC documents of the directors and authorized signatories.
6. Record Retention: Retain a fully executed copy of this Resolution along with the acknowledgment receipt issued by IDBI Bank Limited in the permanent corporate compliance and statutory records vault of the Company.