HOW DEEPAK PAREKH GREW HDFC GROUP EXPONENTIALLY

A must read for its rare, yet
untold insights, into the story of a shaper who breathed his own values of
integrity and accountability into the DNA of an institution, that still
remains true to its middle-class values. The 1970s in India were dark times of
high tax slabs, land sharks and black money. When loans were a last resort
meant for emergencies and buying a house was beyond aspiration, possible only
at retirement, nobody was willing to bet on the repayment capacity of the
ignored middle class, except one man. This invisible Class went on to become
the primary potential customer base for housing development finance
Corporation (HDFC). the rest as they say is history. While HDFC was Hasmukh
thakordas Parekh’s brainchild, it was his nephew Deepak parents who shaped
it. Parekh left a comfortable overseas job with a plum salary and exclusive
perks to join his uncles mortgage company at a 50 per cent pay cut. He
nurtured HDFC to become India’s largest and cleanest financial
conglomerate—not just in housing finance, but later in Banking, asset
management and Insurance too.