Board Resolution Format for Sbi

BOARD RESOLUTION: AUTHORIZATION FOR BANKING FACILITIES WITH STATE BANK OF INDIA (SBI)

Document ID: CORP-RES-SBI-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 drafted for institutional corporate governance. The user is responsible for ensuring compliance with the local Companies Act, the company’s Articles of Association, and the specific regulatory requirements of the State Bank of India (SBI). This resolution must be recorded in the official Minute Book of the Company. If the company is registered in a jurisdiction outside of India, verify the enforceability of foreign banking mandates under the applicable local Banking Regulation Acts.

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

Company Name: [Company Full Legal Name]
CIN/Registration No: [Registration Number]
Registered Office: [Principal Address]

IT IS HEREBY RESOLVED THAT:

1. Banking Facility Authorization: The Company be and is hereby authorized to open, maintain, and operate one or more current, savings, or loan accounts with the State Bank of India (SBI), [Insert Branch Name and Address] (the "Bank").

2. Authorized Signatories: The individuals listed below (the "Authorized Signatories") are hereby empowered to sign, execute, and deliver all necessary documentation, including but not limited to account opening forms, loan agreements, hypothecation deeds, letters of credit, bank guarantees, and other security documents, for and on behalf of the Company:

   • Name: [Name 1], Designation: [Title], Specimen Signature: ________________
   • Name: [Name 2], Designation: [Title], Specimen Signature: ________________

3. Scope of Authority: The Authorized Signatories are empowered to: a) Request and obtain credit facilities up to an aggregate amount of [Amount in Currency/USD]. b) Effect transactions through internet banking, mobile banking, and electronic funds transfer (NEFT/RTGS/IMPS/SWIFT). c) Endorse, negotiate, and deposit cheques, drafts, and other instruments for payment. d) Provide instructions to the Bank regarding the operation of the account, including the addition or removal of signatories.

4. Seal and Execution: The Common Seal of the Company (if applicable) may be affixed to any document required by the Bank, in accordance with the Articles of Association of the Company, in the presence of the Authorized Signatories.

5. Ratification: All actions taken by the Authorized Signatories in connection with the matters set forth in this Resolution prior to the date of this meeting are hereby ratified, confirmed, and approved as the acts of the Company.

6. Certification: The Company Secretary or any Director of the Company is authorized to certify a true copy of this resolution and furnish the same to the Bank for their records.

EXECUTION & SIGNATURE BLOCKS

CERTIFIED TRUE COPY FOR [COMPANY FULL LEGAL NAME]:

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

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Document Customization:

   • Open this text in your word processor. Replace all bracketed text [ ] with precise legal data.
   • Verify that the "Authorized Signatories" match the Board’s formal authorization recorded in your corporate minutes.

2. Verification of Authority:

   • Ensure the board meeting was convened with proper quorum as mandated by your company’s Articles of Association.
   • Attach a copy of the Attendance Register or Minutes for the specific meeting date to the back of this document.

3. Digital Execution:

   • If using DocuSign or Adobe Sign, ensure the "Certified True Copy" signature is applied by a company officer (Director or Company Secretary) whose signature is registered with the Bank.
   • Ensure the document audit trail (which logs IP addresses and timestamps) is stored alongside the final PDF.

4. Submission to SBI:

   • SBI requires a "wet ink" signature on their specific Account Opening Forms (AOF). This Board Resolution serves as the legal foundation required by their Compliance/KYC department.
   • Provide a notarized copy if requested by the Bank branch manager.

5. Record Retention:

   • Store the original signed Resolution in the Company’s Statutory Minute Book.
   • Maintain a digital scan in the corporate legal repository for a minimum of 7 years, or as required by local tax and audit regulations.