103.240.169.127: /* Affordable Housing Market */

2021-05-15T09:10:34Z

Affordable Housing Market

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{{peacock|date=February 2020}}

{{short description|Banker}}
'''Sudhin Choksey''' (born 31 January 1954) is the executive director (designate) of [[Bandhan Bank]]<ref>{{Cite web|url=https://www.squarecapital.co.in/blog/bandhan-bank-looks-scale-presence-home-loan-segment/|title=Bandhan Bank looks to scale up presence in home loan segment|last=editor|date=2019-10-29|website=Square Capital|language=en-US|access-date=2020-02-07}}</ref><ref>{{Cite web|url=https://www.moneycontrol.com/news/business/bandhan-bank-looks-to-ramp-up-home-loan-portfolio-4572511.html|title=Bandhan Bank looks to ramp up home loan portfolio|website=Moneycontrol|access-date=2020-02-07}}</ref> and former managing director & CEO of Gruh Finance Limited.<ref>{{Cite web|last=|first=|date=|title=Sudhin Bhagwandas Choksey, Gruh Finance Ltd: Profile and Biography - Bloomberg Markets|url=https://www.bloomberg.com/profile/person/15026995|url-status=live|archive-url=|archive-date=|access-date=2020-11-14|website=Bloomberg.com}}</ref> He is considered as one of the foremost authority in [[affordable housing]] finance and [[mortgage insurance]] in [[India]].<ref>{{Cite web|url=http://ficci.in/spdocument/22983/State%20of%20the%20Low-Income%20Housing%20Market%20-%20High%20Res%20wo%20press%20marks%20-%2005-14....pdf|title=State of the Low-income Housing Finance Market 2018|last=Das|first=Chandrima|last2=Karamchandani|first2=Ashish|date=2018|website=[[Federation of Indian Chambers of Commerce & Industry]]|url-status=live|archive-url=|archive-date=|access-date=|last3=Thuard|first3=Johan}}</ref>

== Early life and education ==

Choksey completed his schooling from New Era School, [[Mumbai]] and later graduated from [[Sydenham College of Commerce and Economics]] (affiliated to the [[University of Mumbai]]). To qualify for chartered accountancy, he completed his articleship with G.P. Kapadia & Company, [[Mumbai]] and in 1978 he finally passed his A.C.A. examinations. Currently, he is a fellow member of the [[Institute of Chartered Accountants of India]].

=== Personal life ===

Choksey is married to Anjali. They have two sons Ajay Choksey who is a [[gastroenterologist]], and Aashay Choksey, a [[chartered accountant]].

== Career ==

Choksey commenced his professional career as a credit officer with [[Housing Development Finance Corporation]] in 1978 and then worked for AIG, [[Bahrain]]. Later, he migrated back to India and joined Deepak Nitrite Limited as a finance manager for their new project.

Choksey joined GRUH Finance Limited in 1993 as General Manager of the company. He was appointed as an Executive Director on the Board of the company in May 1996. He was appointed as CEO of the company in November 1998 and then as Managing Director in June 2000.<ref>{{Cite web|url=http://www.forbesindia.com/article/anniversary-special/how-sudhin-choksey-carved-a-niche-for-gruh-finance/43307/1|title=How Sudhin Choksey Carved A Niche For Gruh Finance|website=Forbes India|language=en|access-date=2020-02-07}}</ref> In 2019, he led the merger of GRUH Finance with [[Bandhan Bank]].<ref>{{Cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/talks-on-for-bandhan-bank-gruh-finance-merger/articleshow/67203327.cms|title=Talks on for Bandhan Bank, GRUH Finance merger|date=2018-12-22|work=The Economic Times|access-date=2020-02-07}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/bandhan-bank-gruh-finance-to-merge-on-october-17/articleshow/71441611.cms|title=Bandhan Bank, Gruh Finance to merge on October 17|date=2019-10-04|work=The Economic Times|access-date=2020-02-07}}</ref> Post-merger, he joined the latter as an executive director (designate).<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/bandhan-bank-looks-to-ramp-up-home-loan-portfolio-4572511.html|title=Bandhan Bank looks to ramp up home loan portfolio|website=Moneycontrol|access-date=2020-02-07}}</ref>

Choksey is an independent director on the board of HDFC Credila Financial Services. He has held the positions of an independent director on the board of Deepak Nitrite Limited, Gujarat Ambuja Exports Limited, and Light Microfinance Private Limited, in the past. He was also on the board of Gujarat State Financial Services Limited (a [[Government of Gujarat]] Undertaking) and Hunnar Shaala Foundation For Building Technology and Innovations.

In 2014, Choksey joined the ''National Taskforce on Rural Housing and Habitat'' set up by [[Ministry of Rural Development (India)]] for rural housing finance.<ref>{{Cite web|url=https://pmayg.nic.in/netiay/Document/National-Task-Force-On-Rural-Housing-And-Habitat.pdf|title=The National Taskforce on Rural Housing and Habitat|last=|first=|date=March 25, 2014|website=[[Ministry of Rural Development (India)]]|publisher=[[Government of India]]|url-status=live|archive-url=|archive-date=|access-date=}}</ref>

=== Affordable Housing Market ===

Choksey is considered as one of the advocates for affordable housing in India. Often, he has supported various socio-economic researches<ref>{{Cite web|url=https://knowledge.wharton.upenn.edu/article/gruh-finance-serving-the-underserved-in-the-housing-sector/|title=Gruh Finance: Serving the Underserved in the Housing Sector|last=Estate|first=Real|last2=Asia-Pacific|website=Knowledge@Wharton|language=en|access-date=2020-02-07|last3=India}}</ref> and piloted affordable housing projects in rural part of Gujarat.<ref>{{Citation|last=Burger|first=Nicholas|title=The Ashray Housing Project|date=2014|work=The Socioeconomic Effects of the Working Poor Moving to Permanent Dwellings|pages=5–8|series=The Case of the Ashray Affordable Housing Pilot Project in India|publisher=RAND Corporation|last2=Gutierrez|first2=Italo|last3=Kumar|first3=Krishna B.|last4=Luoto|first4=Jill E.|last5=Monani|first5=Dhaval|last6=Raichura|first6=Kavita|jstor=10.7249/j.ctt14bs2q2.10}}</ref> His views on the dynamics of Indian housing market are regularly the part of business news broadcast such as; [[BloombergQuint]],<ref>{{Cite web|url=https://www.bloombergquint.com/markets/gruh-finance-sees-good-demand-home-loans-for-next-12-15-months|title=Gruh Finance Sees Good Demand Home Loans For Next 12-15 Months|website=BloombergQuint|language=en|access-date=2020-02-07}}</ref> [[BTVI]],<ref>{{Citation|title=Watch: {{!}} The West Australian|url=https://watch.thewest.com.au/show/61442|language=en|access-date=2020-02-07}}</ref> [[CNBC TV18]],<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/companies/expect-second-half-of-fy19-to-be-more-positive-gruh-finance-2476077.html|title=Expect second half of FY19 to be more positive: Gruh Finance|website=Moneycontrol|access-date=2020-02-07}}</ref> [[ET Now]]<ref>{{Citation|last=Mar 2015|first=09|title=RBI home loan norm a fillip to affordable housing|url=https://economictimes.indiatimes.com/et-now/experts/rbi-home-loan-norm-a-fillip-to-affordable-housing/videoshow/46499952.cms|access-date=2020-02-07|last2=Ist|first2=11:11 Am}}</ref><ref>{{Citation|last=Oct 2015|first=09|title=Reduction of risk weightage to expand loan asset|url=https://economictimes.indiatimes.com/et-now/experts/reduction-of-risk-weightage-to-expand-loan-asset/videoshow/49282260.cms|access-date=2020-02-07|last2=Ist|first2=09:12 Am}}</ref><ref>{{Cite web|url=https://www.timesnownews.com/videos/et-now/companies/sudhin-choksey-of-gruh-finance-speaks-on-q3-performance-stock-value-post-deal/21987|title=Sudhin Choksey of Gruh Finance speaks on Q3 performance & stock value post deal|website=www.timesnownews.com|language=en|access-date=2020-02-07}}</ref><ref>{{Cite web|url=https://www.timesnownews.com/videos/et-now/exclusive/hfc-ruling-hit-on-developers-sudhin-choksey-of-gruh-finance-to-et-now/37084|title=HFC Ruling - Hit On Developers {{!}} Sudhin Choksey of Gruh Finance To ET NOW|website=www.timesnownews.com|language=en|access-date=2020-02-07}}</ref> and [[NDTV Profit]].<ref>{{Citation|title=Affordable Housing Should be Prioritised: Gruh Finance|url=https://www.ndtv.com/video/business/news/affordable-housing-should-be-prioritised-gruh-finance-345479|access-date=2020-02-07}}</ref>

== Awards ==

Choksey was the recipient of the [[Institute of Chartered Accountants of India]] Business Leader Financial Services Award for the Year 2015.<ref>{{Cite web|url=https://awards.icai.org/wp-content/uploads/2016/12/cmii30638a.pdf|title=List of Awardees of ICAI Awards 2015|last=|first=|date=|website=[[Institute of Chartered Accountants of India]]|url-status=live|archive-url=|archive-date=|access-date=}}</ref>

== See also ==

* [[Bandhan Bank]]
* [[Housing Development Finance Corporation]]

== References ==

{{Reflist}}


[[Category:Chief executives in the finance industry]]
[[Category:Indian business executives]]
[[Category:Indian chief executives]]

Sudhin Choksey - Revision history

103.240.169.127: /* Affordable Housing Market */