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Board Resolution for Opening a New Current Account with Bank

A current account in a bank deals with a large number of liquid deposits and withdrawal of funds against the balance through negotiable instruments viz. cheques, bills of exchange, etc. and does not limit the number of transactions in a day.
board resolution format for opening current account

While applying to the bank for opening of a current account in the name of a company, along with the application form, other supporting documents have to be submitted. One of such documents is a certified true copy of the board resolution passed in the meeting of the board of directors.

The copy of the board resolution has to be printed on the letterhead of the company and signed by the duly authorised director(s)/ officer(s) of the company, with the rubber stamp/seal of the company on it.

Following templates of board resolution for opening current account can be referred.


SAMPLE #1

EXTRACT OF THE MINUTES OF THE ...TH MEETING OF THE BOARD OF DIRECTORS OF ................................... LIMITED ("THE COMPANY") HELD ON (DAY), ....TH DAY OF (MONTH), (YEAR) AT THE REGISTERED OFFICE OF THE COMPANY SITUATED AT (................VENUE................) AT ....-.... A.M./P.M.

// Certified True Copy //

#. To open a current account of the company in ............ bank

The Managing Director proposed opening of a current account, in the name of the company, with ....... Bank, having branch office at ............., in order to operate the funds of the company. It was stated that for the purpose of opening the account and operating it on behalf of the company, authorisation is required to be given to one or more officers of the company.

The following resolution was adopted in this regard. Upon motion duly made and seconded, it was:

“RESOLVED THAT a Current Account be opened with .........Bank, ..........Branch, (Location) in the name of the company namely "............................. LIMITED".

RESOLVED FURTHER THAT any two Directors of the company be and is hereby jointly authorised to sign and submit the bank account opening form and other documentations and to do all that is necessary in this respect, on behalf of the company.

RESOLVED FURTHER THAT the said Bank be and is hereby informed and authorised to honour all Cheques, Bills of Exchange, Promissory Notes, Hundis and any other instruments drawn, accepted, made and signed on behalf of the company, by the following authorised signatories:

1. (Name), (Designation) and (Name), (Designation) — Jointly — Not limited to any amounts.
2. (Name), (Designation) and (Name), (Designation) — Jointly — Not limited to any amounts.
3. (Name), (Designation) and (Name), (Designation) — Jointly — Not limited to any amounts.

RESOLVED FURTHER THAT the Managing Director of the company be and is hereby authorised to provide a certified true copy of the foregoing resolution and a copy of Memorandum and Articles of Association to the above-mentioned Bank.”

..........................................

SAMPLE #2
(Account with internet banking facility)

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE ...TH MEETING OF THE BOARD OF DIRECTORS OF ................................... LIMITED HELD ON (DAY), ....TH DAY OF (MONTH), (YEAR) AT (VENUE) AT ..... A.M./P.M.

#. To open a current account of the company in ............ bank

“RESOLVED THAT a Current Account be opened with .........Bank, ..........Branch, (address) in the name of the company namely "............................. PRIVATE LIMITED".

RESOLVED FURTHER THAT the Managing Director of the company be and is hereby authorised to sign and submit the bank account opening form, on behalf of the company, along with other documentations and proofs and to do all such acts and deeds as may be necessary for this purpose.

RESOLVED FURTHER THAT the said Bank be and is hereby informed and authorised to honour all Cheques, Bills of Exchange, Promissory Notes, Hundis and any other instruments drawn, accepted, made and signed on behalf of the company, by the following authorised signatories, up to the limit prescribed below:

1. (Name), (Designation) — Singly — Upto Rs. ..................
2. (Name), (Designation) — Singly — Upto Rs. ..................
3. (Name), (Designation) and (Name), (Designation) — Jointly — Upto Rs. ..................
4. (Name), (Designation) and (Name), (Designation) — Jointly — Upto Rs. ..................

RESOLVED FURTHER THAT the Managing Director of the company be and is hereby further authorised to apply for and avail the 'Corporate Internet Banking Service' of the said bank for the company's current account to be applied for.

RESOLVED FURTHER THAT the following officers of the company be and is hereby authorised to operate the 'Corporate Internet Banking Service' of the said bank for the company's current account to be applied for:

1. (Name), (Designation) and (Name), (Designation) — Jointly — Upto Rs. ..................
2. (Name), (Designation) and (Name), (Designation) — Jointly — Upto Rs. ..................

RESOLVED FURTHER THAT any of the Directors of the company be and is hereby authorised to provide a certified true copy of the foregoing resolution.”

Comments

  1. Ansh Rathod10/18/2019

    Thanks a lot for the resolution format. I also found a format on the bank's website. Helpful.

    ReplyDelete
  2. It becames very helpful for me, thanks 🙏

    ReplyDelete
  3. THANKS FOR THIS FORMAT, IT WAS VERY HELPFUL

    ReplyDelete
  4. I appreciate this format absolutely helpful.

    ReplyDelete
  5. Anonymous4/29/2022

    Thanks

    ReplyDelete
  6. Thank you for this sample. Is helpful

    ReplyDelete
  7. Anonymous10/13/2022

    Very helpful

    ReplyDelete
  8. Anonymous2/09/2023

    Thank you for help

    ReplyDelete
  9. Anonymous3/24/2023

    Thanks alot very helpful with full details and directions

    ReplyDelete
  10. Please how do i write in a situation where I run my business alone as the proprietor

    ReplyDelete
  11. Anonymous1/09/2024

    veru helpful

    ReplyDelete

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