Deepak Parekh

Born On: 18th October, 1944
Career: Chairman of HDFC

Deepak Parekh is the Chairman of HDFC (Housing Development Finance Corporation, which is a top mortgage finance company. Besides being the Chairman, he is also the unofficial crisis consultant of the Indian Government. He, with his hard work and intelligence developed HDFC into the huge financial multinational firm that it is today. He also served Satyam Computer Services as an independent director from 11th January to 17th July, 2009. He believes in hard work, great zeal and perfection. According to him, it is very important to stick on to moral values and ethics, only then can one become a great businessman. Following immoral methods will lead only to the loss of reputation. If a person's reputation is gone it is very difficult to get it back. Read on to know more about Deepak Parekh, a prominent Banker and a well-known expert of finance in India.

Early Life
Deepak Parekh was born on 18th October, 1944 in India. He pursued his Bachelor of Commerce degree from the Sydenham College of Bombay University and acquired a Financial Chartered Accountant degree from England and Wales. At present, he lives in Mumbai.

Career
Mr. Parekh started his career as a chartered accountant in Ernst & Young Management Consultancy Services in New York. When he came to back to India, he worked with Grindlays Bank and Chase Manhattan Bank as the assistant representative for South Asia. In 1978, he joined HDFC and was promoted as the Managing Director in 1985 and thus became the Chairman in 1993. Besides this, in 1997, he became the Non-Executive Chairman of IDFC (Infrastructure Development Finance Company Ltd.) which is a Government enterprise for projects of infrastructure. He also served as the Non-Executive Chairman of Glaxo India Ltd. till 2008 and is the Chairman of Burroughs Wellcome (India) Ltd. and worked on the Board of Castrol India Limited, Hindustan Unilever (since 1997), Siemens Ltd, Mahindra & Mahindra (since 1990) and Indian Hotels Company (since 2000). He is a member of the proactive advisory board of the world's biggest student determined organization AIESEC India. Along with this, he has also been a part of several Committees made by Indian Government. In 1964, he was made the Chairman of the high level of expert committee which was formed to suggest the ideas for the growth of the Unit Scheme. He was appointed the Chairman of the Advisory Group for Securities Market Regulation by the Reserve Bank of India. Later on, he became the Chairman of the National Thermal Power Corporation Ltd. He has served the Singapore Telecommunications Ltd. as a Non-Executive Independent Director, has been a Director of WNS Global Services Pvt. Ltd. and a Director of Steel Authority of India Ltd., Airports Authority of India and Lafarge India Pvt. Ltd. He serves the Exide Industries Ltd. as an Alternate Director and as a Director of Indo-German Chamber Of Commerce.

Awards and Accolades
Deepak Parekh was honored as the Businessman of the Year 1996 by Business India. He was also given the JRD Tata Corporate Leadership Award by All India Management Association (AIMA) and was the first to receive the Qimpro Platinum Award. Mr. Parekh was the youngest man to get the respected Corporate Award for the Life Time Achievement by the Economic Times. He was also honored with the Padma Bhushan in 2006 and in 2009 he attended the state dinner at the White House hosted by US President Barack Obama in honor of the Indian Prime Minister Manmohan Singh. Besides this, he received the Outstanding Business Leader Award from CNBC-TV18. In 2010, for his input to the finance and accountancy profession from many years, the Institute of Chartered Accountants in England and Wales honored him with an Outstanding Achievement Award.

Contribution
Deepak Parekh has played a very significant role in developing the financial sector of India and has also contributed in establishing French firms in India. According to the Government of France, Mr. Parekh has improved the relations of India and France in the economic sector. Mr. Parekh made it possible for the middle class people of India to own their houses or flats by providing them with loans at affordable rates.

Timeline

1944: Born in India.
1978: Joined HDFC.
1985: Became the Managing Director of HDFC.
1993: Became the Chairman of HDFC.
1996: Businessman of the Year by Business India.
1997: Became the Non-Executive Chairman of IDFC.
2006: Honored with Padma Bhushan.
2009: Attended a state dinner at the White House hosted by US President Barack Obama in honor of the Indian Prime Minister Manmohan Singh and received the Outstanding Business Leader Award from CNBC-TV18.
2010: Received the Outstanding Achievement Award from the Institute of Chartered Accountants in England and Wales.