Hasmukhbhai Parekh: Growth of HDFC Bank

Hasmukh Thakordas Parekh was a financial entrepreneur, author, and philanthropist who made important contributions to India’s growth. For his contributions to India’s finance industry at Industrial Credit and Investment Corporation of India, now ICICI Bank, he received the Padma Bhushan award in 1992. He was also given an honorary fellowship by the London School of Economics.

Hasmukhbhai Parekh Biography

Hasmukh Thakordas Parekh is a Gujarati actor who was born in Surat. Living in a chawl with his father, Thakurdas, and working a part-time job while studying at the London School of Economics were his early years.

After that, he worked for three years as a lecturer at St. Xaviers College in Mumbai before starting his financial career with Harkisandass Lukhmidass.

In 1956, ICICI appointed him as a deputy general manager, and he rose through the ranks to become Chairman and managing director. He left the company in 1976 and stayed as Chairman until 1978.

When standing down from ICICI at the age of 66, he founded HDFC, India’s first housing finance business, despite having previously received numerous awards. HDFC was an unknown undertaking, according to Dr. Manmohan Singh, and no one knew if it would resonate with the Indian people.

Hasmukh Thakordas Parekh, the project’s promoter, has already secured finance from international investors. The H T Parekh Library (IFMR) is a reference and archive library. Institute faculty, research staff, students, and other researchers use the resources.

Full Name Hasmukh Thakordas Parekh
Born 10 March 1911
Death 18 November 1994 (Age 83)
Nationality Indian
Religion Hinduism
Hometown Surat, Gujrat, India

What is the name of HDFC’s Chairman?

Deepak Parekh, Chairman of the country’s largest mortgage lender Housing Development Finance Corporation (HDFC), a recipient of the ET Excellence Honors for 2020, says India should become a more property-owning democracy where homeownership is seen as a sign of prosperity.

When and how was HDFC formed?

Housing Development Finance Corporation Limited established HDFC Bank on August 30, 1994. The Bombay Stock Exchange listed HDFC Bank in May 1995. On November 8, 1995, it was listed on the National Stock Exchange. The NSCCL designated the Bank as a clearing bank in 1996.


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