Deepak Parekh (born 18 October 1944) is an Indian businessman and the former chairman of Housing Development Finance Corporation,

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

's leading housing private development finance institution. It is based in

Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...

Education

Parekh completed his schooling at St. Xavier's High School, Fort and later graduated with a B.Com from Sydenham College affiliated with the

University of Mumbai University of Mumbai is a public state university in Mumbai. It is one of the largest university systems in the world with over 549,000 students on its campuses and affiliated colleges. , the university had 711 affiliated colleges. It was est ...

. He went to England in 1965 to qualify as a chartered accountant with the ICAEW; he completed his articles with Whinney, Smith and Whinney (which later became

Ernst & Young EY, previously known as Ernst & Young, is a multinational corporation, multinational professional services partnership, network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four accounting firms, Big F ...

) in London. He also cleared the Certified Associate of Indian Institute of Bankers (CAIIB) of Indian Institute of Banking and Finance. He cleared his ACA exams in the first attempt and was afterwards posted at the firm's consulting arm Ernst & Ernst in New York.

Career

Parekh has worked at

, Grindlays Bank, and Chase Manhattan Bank as its assistant representative for

South Asia South Asia is the southern Subregion#Asia, subregion of Asia that is defined in both geographical and Ethnicity, ethnic-Culture, cultural terms. South Asia, with a population of 2.04 billion, contains a quarter (25%) of the world's populatio ...

. He joined Housing Development Finance Corporation (HDFC) in 1978. HDFC was founded by his uncle, Hasmukhbhai Parekh. Parekh also became the Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), a specialised financial institution for financing 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, Fairfax India Holdings Corporation, and Siemens Ltd, Mahindra & Mahindra, Indian Hotels Company and SingTel. Parekh is an advisory board member of AIESEC India and US Engineering consultancy giant, AECOM and Tribeca Developers. 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, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...

appointed him Chairman of the Advisory Group for Securities Market 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.

Awards and honors

Deepak Parekh has won several awards including Businessman of the Year 1996 from ''Business India'' and the JRD Tata 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 Corporate Award for Life Time Achievement by

the Economic Times ''The Economic Times'' is an Indian English-language business-focused daily newspaper. Owned by The Times Group, ''The Economic Times'' began publication in 1961 and it is sold in all major cities in India. As of 2012, it is the world's secon ...

. Padma Bhushan 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. He was appointed as the advisor to Sunil Gavaskar who was interim chairman of IPL-7. Parekh is also on the

Advisory board An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation. The informal nature of an advisory board gives greater flexibility in structure and management compared to the ...

of IIMUN.

References

{{DEFAULTSORT:Parekh, Deepak Businesspeople from Mumbai Recipients of the Padma Bhushan in trade and industry Indian accountants 1944 births Living people Businesspeople from Gujarat HDFC Group Indian Jains