Deepak Parekh is the Chairman of Housing Development Finance Corporation

Housing Development Finance Corporation

Housing Development Finance Corporation Limited or HDFC , founded 1977 by Hasmukhbhai Parekh, is an Indian NBFC, focusing on home mortgages. HDFC's distribution network spans 283 outlets that include 66 offices of HDFC's distribution company and HDFC Sales Private Limited.In addition, HDFC covers...

, India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

's leading housing finance company

Financial institution

In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...

. A pioneer in mortgage finance, he has enabled scores of Indian middle class

Middle class

The middle class is any class of people in the middle of a societal hierarchy. In Weberian socio-economic terms, the middle class is the broad group of people in contemporary society who fall socio-economically between the working class and upper class....

 people to own their houses or apartments through affordable loans. He is based in Mumbai

Mumbai

Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...

.

A Chartered Accountant

Chartered Accountant

Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...

, Deepak Parekh began his career with Ernst & Young

Ernst & Young

Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....

 Management Consultancy Services in New York. After returning to India, he worked with Grindlays Bank

Grindlays Bank

The Grindlays Bank was a major British overseas bank established in 1828.It operated mainly in British colonies, especially British India. After decolonization, it was a major foreign bank in India, Pakistan and other West Asian countries. As ANZ Grindlays Bank, it was for a while the largest...

 and also Chase Manhattan Bank

Chase Manhattan Bank

JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...

 as its assistant representative for South Asia

South Asia

South Asia, also known as Southern Asia, is the southern region of the Asian continent, which comprises the sub-Himalayan countries and, for some authorities , also includes the adjoining countries to the west and the east...

. Parekh joined HDFC in 1978. He was promoted to Managing Director in 1985 and appointed as Chairman in 1993. He was instrumental in making the HDFC one of India's premier housing finance institutions. Parekh also became the Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), a Government of India

Government of India

The Government of India, officially known as the Union Government, and also known as the Central Government, was established by the Constitution of India, and is the governing authority of the union of 28 states and seven union territories, collectively called the Republic of India...

 enterprise for infrastructure projects in 1997. He is also the Non-Executive Chairman of Glaxo India Ltd & Burroughs Wellcome (India) Ltd and on the Board of Castrol India Limited, Hindustan Unilever, Siemens Ltd, Mahindra & Mahindra, Indian Hotels Company and SingTel

Singapore Telecommunications

Singapore Telecommunications Limited , commonly abbreviated as SingTel, is a Singaporean telecommunications company, with a combined mobile subscriber base of 416 million customers from its own operations and regional associates in 25 countries at end of June 2011 increased by 19 percent from a...

. Mr. Parekh is also extremely supportive of youth leadership and thus is a proactive advisory board member of the world's largest student driven organization AIESEC

AIESEC

AIESEC is a global youth organisation that develops leadership capabilities through their internal leadership programmes and engaging students and graduates in international student exchange and internship programmes for profit and non-profit organisations. Its international office is in...

 India.

Parekh has been a member of various Committees set up by the Government of India. He was appointed Chairman of the high level expert committee formed to recommend measures for strengthening the Unit Scheme in 1964. The Reserve Bank of India

Reserve Bank of India

The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...

 appointed him Chairman of the Advisory Group for Securities Market

Capital market

A capital market is a market for securities , where business enterprises and governments can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year, as the raising of short-term funds takes place on other markets...

 Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries. He was also Chairman of the Expert Committee constituted by the Ministry of Power to look into the reform efforts in the power sector.

Deepak Parekh has won several awards including Businessman of the Year 1996 from Business India and the JRD Tata

J. R. D. Tata

Jehangir Ratanji Dadabhoy Tata was a pioneer aviator and important businessman of India. He was awarded India's highest civilian award, the Bharat Ratna in 1992 and the Legion of Honour from the French government in 1954.-Early life and education:J. R. D...

 Corporate Leadership Award by All India Management Association (AIMA). He was the first recipient of the Qimpro Platinum Award for Quality for his contributions to the services sector, and the youngest recipient of the prestigious Corporate Award for Life Time Achievement by the Economic Times

The Economic Times

The Economic Times is an English-language Indian daily newspaper published by the Bennett, Coleman & Co. Ltd.. The Economic Times was started in 1961. It is the most popular and widely read financial daily in India, read by more than 8 lakh people...

. Padma Bhushan

Padma Bhushan

The Padma Bhushan is the third highest civilian award in the Republic of India, after the Bharat Ratna and the Padma Vibhushan, but comes before the Padma Shri. It is awarded by the Government of India.-History:...

 was conferred on him by the Government of India. In 2010 he was the first international recipient of The Institute of Chartered Accountants in England and Wales’ Outstanding Achievement Award, for his contribution over many years to the finance and accountancy profession.

External links

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