Federal Bank Ltd has informed BSE that the shareholders of the Bank have approved the Special Resolution by postal ballot to amend certain Articles in the Articles of Association of the Bank and provide for a Part Time Chairman of the Board of Directors and a separate Chief Executive Officer / Managing Director responsible for day-to-day management of the Bank in compliance with the RBI letter dated May 24, 2007 and the report of the Consultative Group of Directors of Banks / Financial Institutions (Dr. Ganguly Group) on Corporate Governance.