Deepak Parekh

Banks must be allowed to fund developers for land acquisition: Parekh

Parekh says there's a need to provide builders with an impetus to launch projects in the affordable housing space, along with allowing bank credit for land acquisition, albeit with some conditions

Banks must be allowed to lend for land to developers: Parekh at BS IMLC

At the BS IML Conclave, Deepak Parekh said that some incentives must be provided to the developers to make affordable homes

Choosing to be non-executive HDFC chair my biggest challenge: Deepak Parekh

Veteran banker Deepak Parekh on Thursday said the biggest challenge for him was choosing to be a non-executive chairman of HDFC 13 years ago when he turned 65, a decision which he "still regrets, but is also happy about". In a fireside chat with BCG India Chairman Janmejaya Sinha on the third and final day of the Global Fintech Summit, Parekh also said that he has no such plans as he does not have the "thick skin to be a politician". He was responding to a query on whether he has any plans to enter politics. While mentioning about his decision to relinquish his position as the chairman in 2010, Parekh said the HDFC board as well as his family were against the move. "But I chose to do so because had I stayed on, it would have closed the door on my the next-in-line leadership to grow and move to the corner room in the Ramon House (HDFC headquarters in south Mumbai)," Parekh, now 78, said. "As a result, which I regret to some extent now, for the past 13 years ending June 30 this year

Sold Credila as merger required lengthy regulatory approval process: Parekh

On July 1, housing finance major HDFC completed the reverse merger with its subsidiary HDFC Bank

Changes in insurance sector will help create value for customers: Parekh

The massive changes taking place on the regulatory front in the insurance space will help in ease of doing business, encourage development of longer-term products and improve persistency, thereby creating value for customers, according to HDFC Life Chairman Deepak Parekh. Addressing the company's 23rd annual general meeting, Parekh, who till June 30 was the chairman of HDFC which got merged with HDFC Bank, said several changes that the regulator Irdai is proposing would enhance insurance penetration, facilitate sustainable growth and ease the operating environment. The regulator has already introduced use and file regime for faster product launches and revised the expenses of management and commission guidelines to provide greater flexibility to companies to manage their cost structures. These regulations will increase the ease of doing business, encourage development of longer-term products, improve persistency, thereby creating value for customers, Parekh said. Further, he said

HDFC Life to get biz opportunities from HDFC merger, says Deepak Parekh

Further, granting of composite licenses, enabling distribution of other financial products by insurers

In HDFC Bank integration process, 70% of HDFC top executives to retire

The absence of the leadership from HDFC is likely to make the integration process smoother and faster as the leadership from the HDFC bank will drive the process

India Inc's troubleshooter Parekh retires ahead of HDFC, HDFC Bank merger

Parekh led several Indian govt, regulators panels to suggest financial sector reforms

HDFC Bank will preserve 'HDFC way of working' after merger: Deepak Parekh

Parekh said that the cross-selling of assets and liabilities of HDFC's home loan business will be done 'seamlessly' through their digital platforms.

HDFC-HDFC Bank merger: The story behind success of housing finance behemoth

In a press conference on June 27, HDFC's chairman Deepak Parekh said that the board of these two companies will meet on June 30 to finalise the merger and it will be effective on July 1

HDFC, HDFC Bank merger effective July 1; HDFC shares delisting on July 13

Deepak Parekh said that HDFC Bank has assured them that "each and every employee of HDFC under age of 60" will be absorbed and their salaries will not be reduced

Global headwinds to slowdown GDP growth; India resilient: HDFC's Parekh

Global headwinds are likely to slow down India's GDP growth, but the country is more resilient than many large economies, HDFC chairman Deepak Parekh said on Saturday. India has enough tailwinds with political stability, vaccine security, food security, a robust domestic consumption-based economy, digitisation initiatives and a robust regulatory system for the financial sector, Parekh said at SPJIMR's Centre for Family Business and Entrepreneurship (CFBE) event. "India is not immune to the global shocks but has proved to be more resilient than many large economies. For sure, India's GDP growth will slow down because of global headwinds," he said. For startups, he said, "many investors still have plenty of dry powder for good, innovative ideas, but the days of cash burn and high valuations are behind us". Entrepreneurship in India has exploded because of the conducive startup environment in the country and India has the third largest number of startups after the US and China, Parekh

HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh

According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management

Journey towards strong governance a work in progress: Deepak Parekh

The ultimate objective is that corporate governance systems must become simpler; not more complicated, Parekh said

HDFC twins may merge by April next year, says Chairman Deepak Parekh

Parekh said the voting process of shareholders on the proposed merger has received "fair amount of votes" from shareholders already

India not decoupled from world and will face some slowdown: Deepak Parekh

It will be a $7.5 trillion economy within 5 years, says chairman of HDFC Ltd

Parekh wants financial sector to do a credit bureau encore on climate risks

Noted banker Deepak Parekh has underlined the need for the financial sector to come together to take the lead to create a data bank on green loans in the way they created credit bureaus more than two decades back. Admitting that there is a severe lack of quality data on the emission risks/climate risks, Parekh, who is also the chairman of the nation's largest pure-play mortgage lender HDFC, said, Hiding lack of data is not an excuse because the key point is that we have got to start somewhere and we are at an inflexion point on climate risk." "There is no reason why our financial system cannot collaborate together on climate risk and measuring financed emissions. "We've set up many repositories in the past, and we have the technology to support easily available and I am sure some of our larger financial institutions can take the lead to work together to have a single platform wherein they can use common data to determine climate risks and begin to measure their financed emissions, .

RBI has been prudent in its exchange rate management: Deepak Parekh

Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman

Regulators must apply same rules for public and private cos: Deepak Parekh

Finance industry veteran Deepak Parekh on Wednesday said regulators are lenient on state-run companies, and there is a need to have a parity between public and private enterprises. He said the leniency is seen in various mandates like adhering to having required number of independent directors or women directors on board, and added that there is a "little less accountability" in the public sector. "Regulators are a bit lenient on public sector companies," Parekh said, speaking at the launch of the book "The Undercover Monk" here. Parekh, who is the chairman of mortgage major HDFC which is presently seeking regulatory nods for merging with subsidiary HDFC Bank, added, "same rules should apply on governance and disclosure norms". Parekh said sometimes, government nominee director's unavailability leads to cancellation of a meeting and recounted an experience while serving a state-run company's board. Parekh said after reaching New Delhi, he was informed that the meeting was postpone

Deepak Parekh, Anil Ambani among corporate leaders to pay tribute to Mistry

Family friend and NCP leader Supriya Sule joins hundreds of SP group employees and others at the funeral Tuesday morning. Reliance Jio chief Akash Ambani among mourners