Board Resolution Format for Kyc Updation Sbi

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS

Document ID: CORP-RES-KYC-SBI-2024-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [Insert State/Country, e.g., Republic of India]

STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a formal template for corporate record-keeping and regulatory compliance. It is provided for informational purposes and constitutes a legal instrument. Users must ensure that the contents align with the specific Memorandum and Articles of Association of their entity and the specific KYC documentation requirements mandated by the State Bank of India (SBI). Local counsel review is recommended to ensure compliance with the Prevention of Money Laundering Act (PMLA) and relevant RBI circulars.

RESOLUTION OF THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME]

HELD AT: [Registered Office Address]
DATE: [Date] | TIME: [Time]

WHEREAS, the Company maintains banking relationships with State Bank of India (hereinafter "the Bank"), specifically under account(s) registered with [Branch Name/Code];

WHEREAS, the Bank has mandated the periodic updation of Know Your Customer (KYC) documentation, including but not limited to, changes in Authorized Signatories, Beneficial Ownership, Registered Office address, and Memorandum/Articles of Association;

IT IS HEREBY RESOLVED THAT:

1. AUTHORIZATION: The Company hereby authorizes the updation of all KYC records with the State Bank of India to ensure continued banking operations and regulatory compliance.

2. AUTHORIZED REPRESENTATIVES: The following individuals are hereby authorized to sign, execute, submit, and provide all necessary documentation, declarations, self-attested copies, and biometric or digital authorizations as required by the Bank for the purpose of KYC updation:

   • [Name of Authorized Signatory 1], [Designation]
   • [Name of Authorized Signatory 2], [Designation]

3. SCOPE OF AUTHORITY: The Authorized Representatives are empowered to: a. Sign and execute the "KYC Updation Form" provided by the Bank. b. Provide updated Proof of Identity (POI) and Proof of Address (POA) for the Company and its Beneficial Owners/Directors. c. Attest and submit any supplemental documents required under the Bank’s "Customer Due Diligence" (CDD) policy. d. Communicate with the Bank regarding any discrepancies or additional information requests.

4. REPRESENTATION: The Board confirms that the information provided to the Bank is true, accurate, and current as of the date of submission. Any material changes will be notified to the Bank within the prescribed statutory timelines.

5. RATIFICATION: Any acts performed by the aforementioned Authorized Representatives in connection with this KYC updation, consistent with this Resolution, are hereby ratified and confirmed.

6. GOVERNING LAW: This resolution shall be governed by the laws of [Governing Jurisdiction]. Any disputes arising regarding the authority granted herein shall be subject to the exclusive jurisdiction of the courts located in [City, Jurisdiction].

CERTIFICATION BY DIRECTOR/COMPANY SECRETARY

I, [Name of Director/Company Secretary], being a [Title] of [Company Full Legal Name], do hereby certify that the above is a true and correct copy of the resolution passed by the Board of Directors of the Company at their meeting held on [Date], and that the said resolution has been duly recorded in the Minute Book of the Company and is in full force and effect.

EXECUTION & FORMAL SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________
Printed Name: [Authorized Signatory Name]
Title: [Title / Role]
Company: [Company Legal Name]
Date: [Date]

ATTESTED BY:

Signature: _____________________________________
Printed Name: [Director/Company Secretary Name]
Title: [Title / Role]
Date: [Date]
Company Seal/Stamp: [Affix Seal Here]

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Document Customization:

   • Open this template in your word processor.
   • Replace all [Bracketed Text] with the specific legal data of your entity.
   • Verify that the "Authorized Representatives" listed in Section 2 match the individuals who will physically or digitally present the KYC documents to the Bank.

2. Verification of Authority:

   • Ensure the person signing the "Attested By" section is authorized under the Company’s Articles of Association to certify Board resolutions.
   • If the Company has a common seal, ensure it is affixed next to the Director’s signature in accordance with internal corporate policy.

3. Execution via Digital Signature:

   • If submitting via an online corporate portal, use an Adobe Sign or DocuSign workflow. Ensure the "Audit Trail" feature is enabled to maintain a record of the signing identity.
   • If providing a hard copy to the Bank, use blue ink for wet signatures and affix the Company Seal.

4. Internal Record Retention:

   • File the signed original in the Company’s Minute Book.
   • Retain a digital PDF copy in your corporate legal compliance repository for a minimum of 7 years, or as mandated by your local tax authority.

5. Submission:

   • Present the certified copy to the branch manager or the designated corporate banking relationship manager at State Bank of India. Retain an acknowledgment receipt (stamped copy) from the Bank as proof of submission.