Clarification – Opening of FCRA A/c in SBI Delhi

Posted on March 18, 2021 by SRRF

Hi, ‎

We have received query from SBI Delhi which is given as follows:‎

Annexure II need to be filled by all the signatories and ‎designated members (post holder)in personal capacity. (only ‎sign of the customer is required without the stamp). Kyc of the ‎same need to be obtained. (DESIGNATED MEMBERS TO BE ‎DECIDED AS PER THE LIST OF MEMBERS)‎

I’d like to know who are designated members?‎

Also our board resolution talks about a quorum of 6 ‎members . Are those 6 members considered members?‎

Looking Forward to your reply.‎

Regards,‎

Sandeep

This entry was posted in FCRA, TAX, LEGAL. Bookmark the permalink.

4 Responses to Clarification – Opening of FCRA A/c in SBI Delhi

  1. Sandeep Srivastava says:
    March 20, 2021 at 4:59 am

    Thanks for reply and suggestions.

    Sandeep

  2. Sandeep says:
    March 19, 2021 at 2:26 pm

    Thanks a lot for reply and suggestions

  3. Subhash Mittal says:
    March 19, 2021 at 12:05 pm

    Hello Sandeep, Annexure II is the form which is required to be signed by designated members, but exactly who are designated members – there is a big confusion on who you talk to in SBI. My suggestion talk to someone senior. Based on talking to different organisations, it seems designated members would be those trustees / office bearers who would most likely be authorised to sign Board resolutions. Bank could insist on all office bearers too. All authorised signatories would also need to fill this Form (Annexure II).

    Normally it is not quorum, but who will sign your resolution / Forms for filing with RoC, etc.

  4. Subramania Siva says:
    March 19, 2021 at 12:01 pm

    The designated members are office bearers and also the authorised signatories (for operating bank accounts). If your Board has more than 6 members and if you a quorum provision of 6 members, then the Board resolution which authorises the opening of FCRA Designated account in New Delhi Branch of SBI has to be signed by at least those 6 members and the KYC details in Annexure-II could be provided for those 6 persons only. In case of a Society, if the office bearers (who could also be Authorised Signatories) are less in number, it is enough if you submit Annexure-II for those persons. But all those giving Annexure-II should have either personal account in any branch of SBI (from which their customer identity file – CIF could be cross checked) or hould fill Part-I of KYC, based on which temporary CIF will be created by the bank authorities ith one week validity

Comments are closed.