In order to facilitate
smooth banking operations, a Company may avail Corporate Internet Banking
Services from a Bank by furnishing a Board Resolution and other required documents. Different Banks
may ask for a board resolution in their specific format, a general template of the resolution is given below.
Format of Board Resolution for availing Corporate Internet Banking
“RESOLVED THAT the company do
avail the ‘Corporate Internet Banking’ services for the Current Account
bearing Number ____________, Customer Id ____________ maintained with
______________________ (Bank & Branch Name) and the company do accept such terms, regulations,
conditions, stipulations laid down by _________ (Bank Name) for the purpose.
RESOLVED FURTHER THAT Mr. A,
_____ (Designation) and/or Mr. _____, (Designation) of the Company be and are hereby
designated as User/s of Corporate internet banking of ___________ (Bank Name) and is
severally authorized, on behalf of the company, to avail various services offered by ____ (Bank Name) through its Corporate Banking Website, and
to execute all such documents and and do all such acts, deeds and things as may be necessary, in this regard, and to
operate the said account in the name of the Company, using the aforesaid
facilities, to comply with all other
formalities and terms and conditions as prescribed by _______ (Bank Name) for this purpose.
RESOLVED FURTHER THAT the aforesaid
terms and conditions be and are hereby approved and accepted and the authorized
officials be and are hereby severally / jointly authorized to accept such
modifications therein as may be suggested by ____________(Bank Name).
RESOLVED FURTHER THAT
the following officials are authorized to operate on behalf of the company
through ‘Corporate Internet Banking’ on the company’s accounts including by
causing a debit balance in company’s account(s) with ___________ (Bank Name) and/or
continually operate the account(s) even when overdrawn, as per the access
specifications authorized in the “Corporate Internet Banking Registration Form.
Names of the Authorized Officials with
Name of Authorised Officials
Limit Amt. Upto
Mr. A Jointly with Mr. B
Mr. A, Director and Mr. B, Company
Mr. B Jointly with Mr. C
Mr. B, Company Secretary and Mr. C,
Sr. Manager – Finance
Mr. C jointly with Mr. D
Mr. C, Sr. Manager – Finance and Mr.
D, DGM Commercial
RESOLVED FURTHER THAT
__________ (Bank Name) be and is hereby authorised to accept all instructions given or
initiated through the Corporate Internet Banking Services from any of the above
officials in respect of Company’s accounts to the extent of limits specified above.
RESOLVED FURTHER THAT the above
mentioned authorized officials be and are hereby authorized to receive the log in details sent by the bank, for accessing
information and initiating transactions on the Corporate Internet Banking
and are authorized to convey to the bank acceptance on behalf of the Company
of any transactions.
RESOLVED FURTHER THAT the Company shall
indemnify and hold __________ (Bank Name) against any losses or damages that may arise to
the bank by the reason of allowing internet banking facility to the Company.
RESOLVED FURTHER THAT this resolution
be communicated to __________ (Bank Name) and shall remain in full force until notice in
writing of its withdrawal, or cancellation is given to __________ (Bank Name) by the
Company and accepted by __________ (Bank Name).
RESOLVED FURTHER THAT a copy of this
resolution be submitted to __________ (Bank Name) duly certified by Mr. X YZ, Company
Secretary or any two Directors of the Company.”