Hasmukhbhai Parekh

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. The London School of Economics also conferred on him an honorary fellowship.

Biography

Hasmukh Thakordas Parekh was born in Surat, Gujarat. He worked as a lecturer at St. Xavier's College, Bombay (now known as Mumbai), for three years, and later began his financial career with the stockbroking 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 honors and was stepping down from ICICI, he started a new financial institution, the Housing Development Finance Corporation (HDFC).