HDFC
chairman
DEEPAK
SHANTILAL
PAREKH
Deepak Shantilal Parekh is the Chairman
of Housing Development Finance
Corporation, India's leading housing
finance company. He is based in Mumbai.
Born: October 18, 1944 (age 70), Mumbai
Education: Sydenham College
Children: Aditya Parekh, Siddharth
Parekh
\Titles: Padma Bhushan, Chartered
Accountant
EDUCATION
Parekh completed his schooling from St. Xavier's High
School, Fort and later graduated with a B.Com
from Sydenham Collegeaffiliated with the Bombay
University.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) in London. 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 Ernst & Young, Grindlays Bank, and
Chase Manhattan Bank as its assistant representative for
South Asia. He joined Housing Development Finance
Corporation in 1978. Parekh also became the NonExecutive Chairman of Infrastructure Development
Finance Company Ltd (IDFC), a Government of India
enterprise for 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, Hindustan
Unilever, Siemens Ltd, Mahindra & Mahindra, Indian Hotels
Company and SingTel. Mr. Parekh is also an advisory
board member of AIESEC India and US Engineering
consultancy giant, AECOM.
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 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.
AWARD $ 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 prestigious Corporate Award
for Life Time Achievement by the Economic Times.
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.[6]
He has been recently appointed as the advisor to Sunil
Gavaskar who is the interim chairman of IPL-7.
New Delhi: The government has appointed eminent banker
Deepak Parekh as the new chairman of the High Level
Committee on Financing Infrastructure.
HDFC chairman Deepak Parekh
The committee was first set up in November 2010 under the
chairmanship of Rakesh Mohan, former deputy governor of
Reserve Bank of India.
The committee was mandated to review existing policies
and suggest necessary changes in the investment
framework in the high-priority infrastructure sector.
Deepak
Parekh
committee on Infrastructure Report
Deepak Parekh committee on Infrastructure submits report Share on
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google October 7, 2014No comments The High-level government
committee on infrastructure headed by Deepak Parekh submits the
last part of its report in October. The Committee consisted of Uday
Kotak, G.M.R Rao, Sanjay Reddy and top officials from LIC, SBI,
ICICI and IDFC. Some of their proposals are as follows:- Establish
a PPP model for power distribution, starting first with the cities
Modernise public sector distribution companies. The viability gap for
such companies should be funded by the Central government
Earmark 15% of power generation of the central PSUs for open
access customers so that the market becomes more competitive in
an attempt to attract the open access clientele. This is also expected
to increase investment in the electricity sector.
Open access customers refers to customers who
buy in bulk and can directly choose where to buy
their electricity from, according to the Electricity
Act, 2003. Hence, the open access customers at
least will not have to rely on the state controlled
power distribution companies Tariffs should be
rationalized with a grading system that
distinguishes between consumers depending on
their paying capacity. Also, high income
households, commercial consumer and industries
should eventually be moved to market based
pricing. The consumers subject to market based
pricing may be allowed to choose from different
suppliers of electricity. Low income consumers,
however, should be subject to low tariffs and their
requirements should be met with supplies from
depreciated power station…