Board Resolution for Corporate Internet Banking
In order to facilitate smooth banking operations, a Company may avail Corporate Internet Banking Services from a Bank by furnishing a Board
Resolution for this. Different Banks may ask for resolution in specific to their format.
Draft Board Resolution:
“RESOLVED THAT the company do avail the ‘Corporate Internet Banking’ services for the Current Account bearing Number____________,
Customer Id____________ opened with (Bank Name, (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. B, (Designation) of the Company be and are hereby designated as User/s of
Corporate internet banking of (Bank Name) and is authorized severally / jointly (strike off which is not applicable) to avail the financial,
monetary and any other products and services offered by (Bank Name) through its Website, Corporate Internet Banking on behalf of the
Company, and do all such acts, deeds and things necessary, and to execute all such documents as are necessary, in connection therewith, and to
operate the said account in the name of the Company, using the aforesaid facilities, and to accept and adhere to all the terms and conditions
contained in the application form and on the Website and comply with all other formalities as prescribed by (Bank Name) in this regard and
agree to such changes and modifications in the said terms and conditions as may be suggested by (Bank Name) from time to time and to execute
such deeds, documents and other writings as may be necessary or required 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 transaction limits:
Sr. Name of Authorised Officials Designation Limit Amt. Upto
No. (Rs.)
1. Mr. A Jointly with Mr. A, Director and 30,00,000/-
Mr. B Mr. B, Company Secretary
2. Mr. B Jointly with Mr. B, Company Secretary and Mr. C, Sr. 20,00,000/-
Mr. C Manager – Finance
3. Mr. C jointly with Mr. C, Sr. Manager – Finance and Mr. D, 10,00,000/-
Mr. D DGM Commercial
4. Mr. D DGM Commercial 3,00,000/-
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 login id and passwords, as
may be sent by (Bank Name), for accessing information and/or entering into transactions on the Corporate Internet Banking and are authorized
to convey to (Bank name) acceptance on behalf of the Company of any transactions as well as to enter into transactions on behalf of the
Company through Corporate Internet Banking.
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. XY Z, Company Secretary or in the
absence of whom any two Directors of the Company.”
