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Nationality: India
Year of Birth: 1946
Work History: Deepak Parekh is the present chairperson of Housing Development Finance Corporation. Ernest and Young USA originally recruited him and his job title enabled him to learn in depth about management and consultancy services. Once back in India, Deepak Parekh was invited by global companies such as the Grindlays Bank and the Chase Manhattan Bank. During this time, he was placed in several other South Asian countries too. By 1978, Deepak was once again back in India. However, he decided to work with an Indian company this time and chose HDFC to flex his skill set. He served as the Managing Director of the company, before he was bestowed the title of the chairperson. As of today, he functions as the non-executive chairperson of numerous organizations operating within India.
Education: Mr. Deepak graduated in Chartered Accountancy.
Bio: Without a doubt, one can state that Deepak Parekh acted as a pivotal factor for the upheaval of the HDFC. When he joined the company, India was facing a tough economic turmoil. Unlike the western nations, a mortgage organization did not exist in this country. The commoners were forced to opt for loans and mortgages from unauthorized agencies.
Although he was a bit late in implementing an appropriate mortgage and money lending system through HDFC, the company profile began to exceed the expectations of the board members. Since he had worked with banks, which specifically catered to westerners, he already knew the tricks of the trade. By executing revolutionary schemes, he ensured that the Indian population could realize the vantages of mortgages. HDFC became a name synonymous with money lending for housing purposes. HDFC and HDFC Bank Ltd are separate entities and Mr. Deepak looks after the affairs of the former.
Considering the successful operation of the HDFC, Mr. Deepak was invited by the Reserve Bank of India to take care of the Securities Market Regulation. He also presided over countless meetings to deliver powerful and effective ideas. In recognition of his achievements, he was awarded the Businessman of the Year 1996 award from Business India. He also received the Quimpro Platinum Quality Award for his contributions to HDFC.