HDFC Bank Approves 3-Year Reappointment of Former RBI Executive Director Lily Vadera as Independent Director

As per regulatory disclosures submitted to the stock exchanges, the proposed term will commence on November 26, 2026, and conclude on November 25, 2029 (both days inclusive), subject to the approval of the bank’s shareholders.

Three Decades of Central Banking and Policy Governance

Vadera brings over 34 years of high-level central banking, regulatory policymaking, and supervisory expertise:

• Apex Regulatory Leadership: Retiring as RBI Executive Director in October 2020, Vadera headed the Department of Regulation, where she oversaw prudential frameworks for scheduled commercial banks, non-banking financial companies (NBFCs), and all-India financial institutions.
• Fintech & Crisis Resolution: She was the architect behind the conceptualization and operational rollout of the RBI’s Regulatory Sandbox, creating a structured environment for testing live fintech solutions. Furthermore, she played an instrumental role in formulating resolution, restructuring, and amalgamation packages for stressed private and cooperative lenders during systemic liquidity pressures.
• Global and Cross-Disciplinary Pedigree: Vadera served on the Ministry of Corporate Affairs' Insolvency Law Committee, represented the central bank on the Basel Committee on Banking Supervision (BCBS) Policy Development Group, and participated in the Financial Stability Board (FSB) and G20 sub-groups on sustainable and SME finance. Since June 2021, she has also served as Senior Regulatory Advisor at law firm Cyril Amarchand Mangaldas.