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{{short description|Indian financial entrepreneur}} | {{short description|Indian financial entrepreneur}} | ||
{{more citations needed|date=April 2018}} | {{more citations needed|date=April 2018}} | ||
{{Use dmy dates|date= | {{Use dmy dates|date=January 2025}} | ||
{{Infobox person | {{Infobox person | ||
| name = Hasmukh Thakordas Parekh | | name = Hasmukh Thakordas Parekh | ||
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| birth_date = {{Birth date|df=yes|1911|03|10}} | | birth_date = {{Birth date|df=yes|1911|03|10}} | ||
| birth_place = [[Surat]], [[British India]] | | birth_place = [[Surat]], [[British India]] | ||
| death_date = {{Death date and age|1994|11|18|1911|03|10|df=yes}}<ref | | death_date = {{Death date and age|1994|11|18|1911|03|10|df=yes}}<ref>{{cite book | url=https://books.google.com/books?id=wULAAAAAQBAJkbkjbkjbjk | title=Barons of Banking | publisher=Bakhtiar Dadabhoy | date=2016 | isbn=9788184004762 | access-date=9 June 2016}}</ref> | ||
| death_place = India | | death_place = India | ||
| other_names = | | other_names = | ||
| known_for = Founding [[Housing Development Finance Corporation|HDFC]] and GRUH Finance Ltd. | | known_for = Founding [[Housing Development Finance Corporation|HDFC]] and GRUH Finance Ltd. | ||
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|footnotes = | |footnotes = | ||
}} | }} | ||
'''Hasmukh Thakordas Parekh''' (10 March 1911 – 18 November 1994) was an Indian financial entrepreneur, writer and philanthropist. He played a role in the development of [[ICICI|Industrial Credit & Investment Corporation of India, now ICICI Bank]], founded the [[Housing Development Finance Corporation]], and in 1992 was awarded the [[Padma Bhushan]] for his contribution to the finance industry in India.<ref name="Padma Awards">{{cite web | url=http://mha.nic.in/sites/upload_files/mha/files/LST-PDAWD-2013.pdf | title=Padma Awards | publisher=Ministry of Home Affairs, Government of India | date=2015 | access-date=21 July 2015}}</ref> The [[London School of Economics]] also conferred on him an honorary fellowship. | '''Hasmukh Thakordas Parekh''' (10 March 1911 – 18 November 1994) was an Indian financial entrepreneur, writer and philanthropist. He played a role in the development of [[ICICI|Industrial Credit & Investment Corporation of India, now ICICI Bank]], founded the [[Housing Development Finance Corporation]], and in 1992 was awarded the [[Padma Bhushan]] for his contribution to the finance industry in India.<ref name="Padma Awards">{{cite web | url=http://mha.nic.in/sites/upload_files/mha/files/LST-PDAWD-2013.pdf | title=Padma Awards | publisher=Ministry of Home Affairs, Government of India | date=2015 | access-date=21 July 2015 | archive-date=15 October 2015 | archive-url=https://web.archive.org/web/20151015193758/http://mha.nic.in/sites/upload_files/mha/files/LST-PDAWD-2013.pdf | url-status=dead }}</ref> The [[London School of Economics]] also conferred on him an honorary fellowship. | ||
==Biography== | ==Biography== | ||
Hasmukh Thakordas Parekh | Hasmukh Thakordas Parekh was born to a [[Jain]] family in [[Surat]], Gujarat.<ref>{{Cite web |date=2023-07-14 |title=Meet Hasmukhbhai Parekh, the man who once lived in a Mumbai chawl & then worked hard to create a Rs 4,14,000 crore empire; know about his journey & lifestyle |url=https://www.financialexpress.com/life/lifestyle-meet-hasmukhbhai-parekh-the-man-who-once-lived-in-a-mumbai-chawl-then-worked-hard-to-create-a-rs-414000-crore-empire-know-about-his-journey-lifestyle-3168571/ |access-date=2025-04-10 |website=Financialexpress |language=en}}</ref> During his early life he lived in a chawl with his father, Thakurdas, and had to juggle a part-time job and studies with the [[London School of Economics]]. He subsequently worked as a lecturer at [[St. Xavier's College, Mumbai|St. Xavier's College]], Mumbai, for three years, and later began his financial career with the stock broking firm Harkisandass Lukhmidass. He joined [[ICICI]] as Deputy general manager in 1956, became chairman and managing director in 1972. He retired in 1976 and was Chairman of ICICI's Board until 1978. | ||
At 66, when he had already received many honours and was stepping down from [[ICICI]], he started a new institution, the Housing Development Finance Corporation ([[Housing Development Finance Corporation|HDFC]]), the first of its kind for housing finance in India. On meeting the then Secretary of Finance, Dr Manmohan Singh, the latter told him that [[Housing Development Finance Corporation|HDFC]] was an unknown venture and that no one knew if it would "click" with the Indian people, but Hasmukh Thakordas Parekh had by then already obtained promises of funding from overseas investors, and he was enthusiastic about the project. H.T. Parekh Library (IFMR) is an archive and reference library. It is used by Institute's faculty members, researchers, staff, students as well as outsiders for their academic and research requirements. | At 66, when he had already received many honours and was stepping down from [[ICICI]], he started a new institution, the Housing Development Finance Corporation ([[Housing Development Finance Corporation|HDFC]]), the first of its kind for housing finance in India. On meeting the then Secretary of Finance, Dr Manmohan Singh, the latter told him that [[Housing Development Finance Corporation|HDFC]] was an unknown venture and that no one knew if it would "click" with the Indian people, but Hasmukh Thakordas Parekh had by then already obtained promises of funding from overseas investors, and he was enthusiastic about the project. H.T. Parekh Library (IFMR) is an archive and reference library. It is used by Institute's faculty members, researchers, staff, students as well as outsiders for their academic and research requirements. | ||
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[[Category:1911 births]] | [[Category:1911 births]] | ||
[[Category:HDFC Group]] | [[Category:HDFC Group]] | ||
[[Category:Indian Jains]] | |||
{{India-business-bio-stub}} | {{India-business-bio-stub}} | ||
Latest revision as of 04:18, 8 February 2026
 | This article needs additional citations for verification. (April 2018) |
Hasmukh Thakordas Parekh | |
|---|---|
| Born | 10 March 1911 |
| Died | 18 November 1994 (aged 83)[1] India |
| Known for | Founding HDFC and GRUH Finance Ltd. |
Hasmukh Thakordas Parekh (10 March 1911 – 18 November 1994) was an Indian financial entrepreneur, writer and philanthropist. He played a role in the development of Industrial Credit & Investment Corporation of India, now ICICI Bank, founded the Housing Development Finance Corporation, and in 1992 was awarded the Padma Bhushan for his contribution to the finance industry in India.[2] The London School of Economics also conferred on him an honorary fellowship.
Biography[edit | edit source]
Hasmukh Thakordas Parekh was born to a Jain family in Surat, Gujarat.[3] During his early life he lived in a chawl with his father, Thakurdas, and had to juggle a part-time job and studies with the London School of Economics. He subsequently worked as a lecturer at St. Xavier's College, Mumbai, for three years, and later began his financial career with the stock broking firm Harkisandass Lukhmidass. He joined ICICI as Deputy general manager in 1956, became chairman and managing director in 1972. He retired in 1976 and was Chairman of ICICI's Board until 1978.
At 66, when he had already received many honours and was stepping down from ICICI, he started a new institution, the Housing Development Finance Corporation (HDFC), the first of its kind for housing finance in India. On meeting the then Secretary of Finance, Dr Manmohan Singh, the latter told him that HDFC was an unknown venture and that no one knew if it would "click" with the Indian people, but Hasmukh Thakordas Parekh had by then already obtained promises of funding from overseas investors, and he was enthusiastic about the project. H.T. Parekh Library (IFMR) is an archive and reference library. It is used by Institute's faculty members, researchers, staff, students as well as outsiders for their academic and research requirements.
References[edit | edit source]
- ↑ Barons of Banking. Bakhtiar Dadabhoy. 2016. ISBN 9788184004762. Retrieved 9 June 2016.
- ↑ "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2015. Archived from the original (PDF) on 15 October 2015. Retrieved 21 July 2015.
- ↑ "Meet Hasmukhbhai Parekh, the man who once lived in a Mumbai chawl & then worked hard to create a Rs 4,14,000 crore empire; know about his journey & lifestyle". Financialexpress. 14 July 2023. Retrieved 10 April 2025.
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