Board Resolution Format for Opening Bank Current Account in Sbi

CERTIFIED BOARD RESOLUTION: AUTHORIZATION FOR BANKING OPERATIONS

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

STATUTORY & LEGAL COMPLIANCE NOTICE

This document constitutes a formal corporate record. It is drafted to comply with standard corporate governance protocols. Parties are advised that jurisdictional banking regulations (e.g., RBI guidelines for State Bank of India) may require specific KYC/AML documentation supplemental to this resolution. Users must verify the consistency of this resolution with the Company’s Articles of Association and the Companies Act of the relevant jurisdiction.

I. CORPORATE PARTICULARS

Company Name: [Company Full Legal Name]
Corporate Identification Number (CIN): [Insert CIN]
Registered Office: [Principal Address]
Bank: State Bank of India (SBI)
Branch: [Branch Name/Code]

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

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 THE REGISTERED OFFICE OF THE COMPANY.

WHEREAS, the Board of Directors of [Company Full Legal Name] (the "Company") has determined that it is in the best interest of the Company to establish a current account with the State Bank of India (the "Bank") to facilitate the Company’s financial operations.

NOW, THEREFORE, BE IT RESOLVED:

1. Authorization to Open Account: That a Current Account in the name of the Company be opened with the State Bank of India, [Branch Name], and the Bank is hereby authorized to honor all cheques, promissory notes, and other orders for payment signed by the Authorized Signatories designated herein.

2. Authorized Signatories: That the following individuals are hereby authorized to operate the said account jointly or severally as specified below:

   • [Name 1], [Title]: [Mode of Operation: e.g., Jointly]
   • [Name 2], [Title]: [Mode of Operation: e.g., Jointly]

3. Digital and Electronic Banking: That the Company be and is hereby authorized to avail of the Internet Banking, Mobile Banking, and Electronic Fund Transfer (NEFT/RTGS/IMPS) services offered by the Bank. The aforementioned Authorized Signatories are empowered to execute all necessary applications, indemnity bonds, and other documents required by the Bank for such facilities.

4. Power of Attorney & Documentation: That any Director of the Company be and is hereby authorized to sign, execute, and submit all such documents, forms, and letters as may be required by the Bank, and to furnish a copy of this Resolution certified as a true copy to the Bank.

5. Ratification: That all acts, deeds, and things heretofore done by the Directors or Authorized Signatories of the Company in connection with the opening and operation of the said account are hereby ratified, confirmed, and approved.

III. EXECUTION & FORMAL SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________
Printed Name: [Name of Director 1]
Title: Director
Date: [Date]

Signature: _____________________________________
Printed Name: [Name of Director 2 / Company Secretary]
Title: Director/Company Secretary
Date: [Date]

(Company Seal/Stamp here)

IV. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Document Customization:
   • Open this document in a word processor. Replace all bracketed text [ ] with accurate corporate data. Ensure the "Mode of Operation" (e.g., "Jointly by any two") matches the Company’s internal financial policy.
2. Verification of Authority:
   • Before signing, review the Company’s "Articles of Association" to confirm that the board has the specific power to delegate banking authority and that the designated signatories meet the internal thresholds for financial delegation.
3. Execution:
   • Hard Copy: Print on the Company’s Letterhead. The resolution must be signed by at least two directors or one director and the company secretary (if applicable). Affix the official common seal of the Company as required by internal bylaws.
   • Digital Execution: If using DocuSign or Adobe Sign, ensure the "Certificate of Completion" is attached to the final PDF to provide a legally defensible audit trail of the signing process.
4. Bank Submission:
   • Present the "Certified True Copy" to the SBI branch manager along with the KYC documents of the authorized signatories (PAN, Aadhaar/Passport, Photograph).
5. Record Retention:
   • File the original signed resolution in the Company’s Minute Book. Maintain a digital scanned copy in the secure corporate compliance repository. Pursuant to standard corporate governance, this record must be retained for the life of the account plus a statutory period (typically 8–10 years depending on local law).