As per companies act, company has a separate legal entity other than its Shareholders. To open a bank account or to amend or modify the bank account operation it is mandatory to issue bank accounts opening minutes and resolution passed by the directors of the company.

Key-points to be covered in the resolution to open the Bank account:

• Date and Place where resolution passed.
• the Bank name and Branch name where the bank account will be opened.
• the Name and designation of the shareholder who will operate the bank account.
• the authorization matrix in brief.
• the banking others services (Net Banking / Mobile Banking / Debit Card facility/ Cash Management Services etc.)
• The signature and the common seal of the company.