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Deepak S Parekh, Chairman, HDFC
Mr. Deepak Parekh, is the Chairman of HDFC, India’s premier Housing Finance Institution. A Chartered Accountant by profession, he has been with HDFC for over 30 years. Under his leadership, HDFC has grown from its humble beginning, into a financial powerhouse with its activities diversifying into Banking, Asset Management, Life Insurance, General Insurance and Real Estate Venture Fund. The HDFC Group has an asset base of over Rs. 3,75,000 crore ( Rs 3.75 trillion) and a customer base of over 30 million.
Besides HDFC, Mr. Parekh is on the board of several leading corporations across diverse sectors. He is the Non-Executive Chairman of Infrastructure Development Finance Company (IDFC), GlaxoSmithkline Pharmaceuticals, Siemens India Ltd and Lafarge India. In addition to being nominated by the Ministry of Corporate Affairs to the Board of Satyam Computer Services Ltd. as a Special Director, Mr. Parekh is also nominated by the Civil Aviation Ministry to the Board of Airports Authority of India. He is also on the international boards of Singtel – Singapore and WNS – USA and the boards of Castrol BP India, Hindustan Unilever, Mahindra & Mahindra, Indian Hotels Company Limited.
Mr. Parekh is widely consulted by the Government on a wide range of issues of national importance and has been a member of various Government appointed committees and advisory panels, which includes financial services, capital markets and infrastructure sector reforms.
Chairman of the Expert Group for recommending investment norms for New Pension Scheme (NPS) to be launched by the Pension Fund Regulatory & Development Authority.
Chairman of the High Level Task Force constituted by the Government of India to look into various aspects of providing affordable housing for all.
As a member of the Investment Commission appointed by the Govt. of India, the three-member committee is expected to make recommendations to the Government both on policies and procedures to facilitate greater FDI inflows into India.
Chairman of the Committee appointed by the Ministry of Finance to make recommendations on Infrastructure Financing.
Member of the Audit Advisory Board constituted by the Comptroller & Auditor General of India (C&AG).
A recipient of the ‘Padma Bhushan’ in 2006, he has also received several awards including the ‘IMC Juran Quality Medal 2008’ for excellent customer-centric work in various initiatives relating to the field of Banking & Finance by the Indian Merchants Chamber (IMC), Outstanding Business Leader of the Year 2008 by CNBC, NDTV Business Leader of the Year award – 2008, ’Life Time Achievement Award 2007’ by Finance Asia, ‘Best Non Executive Director 2006’ by the Asian Centre for Corporate Governance, ‘The Economic Times Life Time Achievement Award’ in 2003, the ‘JRD Corporate Leadership Award’ in 1997 and ‘Businessman of the Year’ by Business India in 1996.
Incorporated in 1977, HDFC the pioneer of housing finance in India has assisted more than 3.3 million families to own a home of their own, through housing loan approvals of over Rs.2.4 trillion. It is also the largest deposit mobilisor in the country ( outside the banking system) and the only institution in the country to receive AAA rating for Highest Safety from both CRISIL and ICRA for 14th consecutive year . It has consistently striven for and developed an excellent reputation for professionalism, integrity and an impeccable record of customer friendly services.
HDFC has been described as a model housing finance company for developing countries with nascent housing finance markets. It has provided technical assistance in Bangladesh, Sri Lanka and Egypt and has undertaken consultancy assignments in various countries across Asia, Africa and East Europe.
It has been recognized among India’s Best Managed Companies and has emerged as a financial conglomerate with the group’s presence in the entire gamut of financial services including banking, insurance (life & general), asset management, credit bureau and a real estate venture capital company. It has partnered highly reputed International organisations for most of its businesses. Standard life assurance co plc of UK is the partner for its life insurance venture , Ergo of Germany , a Munich Re group company is its partner for non life Insurance, Standard life Investments of UK is its partner in the Asset Management Company . The HDFC group has an asset base of over Rs 3.75 trillion and a customer base of over 30 million.