Board Resolution Format for Net Banking Sbi

CERTIFIED EXTRACT OF BOARD RESOLUTION

CORPORATE AUTHORIZATION FOR STATE BANK OF INDIA (SBI) NET BANKING OPERATIONS

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

STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a formal record of corporate action. It is intended to satisfy the institutional requirements of State Bank of India (SBI) for the activation and administration of corporate net banking services. This resolution must be verified against the Company’s Articles of Association and the Board’s existing powers of delegation. The signatory below certifies that this resolution was passed in accordance with all applicable corporate statutes and remains in full force and effect.

CERTIFIED RESOLUTION

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME], HELD ON [DATE] AT [TIME] AT [PRINCIPAL OFFICE ADDRESS].

"RESOLVED THAT consent of the Board of Directors of [Company Full Legal Name] (the "Company") be and is hereby accorded to open, operate, and maintain Corporate Internet Banking facilities with the State Bank of India (SBI) for its current account(s) maintained at [SBI Branch Name, Branch Code] (the "Account").

RESOLVED FURTHER THAT the following persons (the "Authorized Signatories") be and are hereby authorized, jointly or severally, to sign, execute, and submit all necessary applications, indemnity bonds, agreements, mandates, and other documentation required by SBI to enable, configure, and operate the Corporate Net Banking facility:

1. [Name of Authorized Signatory 1], [Designation/Title]
2. [Name of Authorized Signatory 2], [Designation/Title]

RESOLVED FURTHER THAT the Authorized Signatories are empowered to: a) Define, assign, and modify user roles, transaction limits, and approval workflows (Maker/Checker/Approver) within the SBI Corporate Net Banking portal. b) Add or delete beneficiaries, initiate fund transfers (NEFT/RTGS/IMPS/Wire), and perform all other banking transactions permitted under the SBI Corporate Banking platform. c) Receive, handle, and manage security credentials, digital certificates (DSC), OTP-based authentication devices, and login passwords on behalf of the Company.

RESOLVED FURTHER THAT the Company hereby agrees to abide by the Terms and Conditions of SBI Corporate Internet Banking as stipulated by the Bank from time to time, and the Company assumes full liability for all transactions executed through the portal by the authorized users.

RESOLVED FURTHER THAT this resolution shall remain effective and binding upon the Company until such time as a fresh resolution is passed by the Board of Directors and a certified copy thereof is filed with the Bank’s branch office.

RESOLVED FURTHER THAT a certified true copy of this resolution be provided to State Bank of India, under the signature of any Director or the Company Secretary, to formalize the request for the activation of the aforementioned services."

SIGNATORY AUTHENTICATION

CERTIFIED TO BE A TRUE COPY:

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________
Printed Name: [Name of Director/Secretary]
Title: [Title / Role]
Date: [Date]
(Company Seal/Stamp Required)

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Preparation: Open this document in your preferred word processor. Use the [ ] brackets to insert your specific company data. Ensure the "SBI Branch Name" and "Branch Code" are accurate, as these are mandatory for internal bank processing.
2. Authority Verification: Before finalizing, the Company Secretary or Authorized Director must cross-reference this resolution against the Articles of Association (or Bylaws) to ensure the Board has the specific power to delegate banking operations to the named signatories.
3. Execution:
   • Hard Copy: Print the document on company letterhead. The Authorized Signatory must sign in blue or black ink. Affix the official Corporate Seal (Common Seal) adjacent to the signature.
   • Digital Signing: If using DocuSign or Adobe Sign, ensure the "Certificate of Completion" is appended to the final PDF for audit trails.
4. Bank Submission: Submit two original copies to the home branch of State Bank of India where the corporate account is held. Request a "Received" stamp on a photocopy for your internal compliance records.
5. Record Retention: Retain the original signed resolution in the Company’s "Corporate Minute Book" for a minimum of seven (7) years, or as dictated by local statutory audit requirements.
6. Maintenance: If an authorized signatory leaves the organization, you must immediately pass a new Board Resolution to revoke their access and provide a copy to SBI to mitigate unauthorized transaction risk.