Board Resolution for a Scheduled Bank to Execute a Refinance Agreement with the National Housing Bank (India)
Updated 7 July 2026
This document is a draft board resolution for a scheduled bank seeking to enter into a refinance agreement with the National Housing Bank. It outlines the formal approval process for borrowing funds to promote housing and authorizes specific officials to execute the necessary legal agreements and promissory notes.
DRAFT FORMAT OF RESOLUTION TO BE PASSED BY THE BOARD OF THE BORROWING SCHEDULED BANK FOR EXECUTION OF AGREEMENT
(applicable to banks which have not taken refinance earlier)
Resolved;
That the ........................... (name of bank) do borrow from the National Housing Bank (hereinafter referred to as "the Housing Bank") under its refinance scheme applicable to Scheduled Banks by way of refinance for the purpose of promoting housing in the country on the terms and conditions set out in the draft Memorandum of Agreement forwarded by the Housing Bank with its letter No. ................... dated .................., a copy whereof duly authenticaed by the Chairman has been circulated to the Members of the Board.
That the draft Memorandum of Agreement forwarded by the Housing Bank with its letter no. .............. dated .............. be and is hereby approved and Shri..................................... and Shri ...................... (name and designation) be and is hereby authorised to execute the Memorandum of Agreement under their signature duly witnessed.
That Shri .............................., director / official and Shri ......................... director / official be and are hereby authorised severally to borrow an amount up to Rs.............. with or without security from the Housing Bank by way of refinance for the aforesaid purposes from time to time upon the terms and conditions set out in the said Memorandum of Agreement with such modifications as might have been agreed to on behalf of the Bank and accept and convey acceptance on behalf of the Bank to the Housing Bank to the letters of sanction that may be issued by the Housing Bank from time to time in connection with the said borrowings.
That the following officials of the Bank
........................................
........................................
........................................
be and are hereby authorised severally to execute on behalf of the Bank and in favour of the Housing Bank such other deeds and documents, promissory notes, declarations and other writings whatsoever as the Housing Bank may require from time to time in connection with the aforesaid borrowings by way of refinance and generally to do or cause to be done such other acts, deeds and things as may be required by the Housing Bank in connection with the said borrowings.
About this template
What is this template?
Board Resolution for a Scheduled Bank to Execute a Refinance Agreement with the National Housing Bank (India) is a free, ready-to-use Banking and finance template you can open, customize, and download on GitLaw. It gives you a professionally structured starting point, so you never have to draft from a blank page. The wording is plain and modern, organized into clear sections that are easy to read, edit, and adapt to your own situation before you share or sign it.
When should you use it?
Reach for this Banking and finance template whenever you need a reliable agreement quickly and want to be sure the essentials are covered. It suits individuals, freelancers, startups, and established businesses alike. Instead of paying for a document drafted from scratch, you can start here, tailor the details to your arrangement, and have a polished draft ready in minutes. This version is drafted with India in mind, though you should always review the final wording against the laws that apply to you.
What's typically included?
A well-drafted Banking and finance usually sets out the parties involved, the scope of the agreement, and each side's rights and responsibilities. Expect sections covering key terms and definitions, how long the agreement lasts, how it can be ended, and what happens if something goes wrong. This template brings those building blocks together in a sensible order, so you can focus on the specifics rather than worrying about what to include. Open it to read the full document, then sign up to edit, negotiate, and e-sign it directly in GitLaw.