Hasmukh Bhai lost old age in front of courage at the age of 66

Success Stories: HDFC Bank has become India’s largest bank with a market cap of over 9 lakh crores, but do you know the story of the person who founded this bank? You will be surprised to know that once the founder of this bank lived in a rice paddy in Mumbai. Hasmukh Thakurdas Parekh studied in poverty and achieved great success through hard work.

Hasmukh Thakurdas Parekh got his understanding of banking services from his father. Hasmukh Parekh graduated from Mumbai and went to London for higher education. After returning to India from Britain, he started his career and founded HDFC Bank, India’s largest bank.

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Part time job with studies
Hasmukh Thakurdas Parekh used to work part time along with his studies. After graduating in Economics from Mumbai, he got an opportunity to study further in the UK, where he obtained a BSc in Banking and Finance from the London School of Economics. Hasmukh Parekh then returned to India and worked as a lecturer at the famous St. Xavier’s College in Mumbai.

After that, he joined the stock broking firm Horkisandas Lakhmidas and started a brilliant career in the financial markets. At ICICI, he rose from Deputy General Manager to Chairman and Managing Director before retiring after a 16-year career.

After retirement started banking business
At the age of 66, when people were settling down after retirement, Hasmukhbhai made a grand comeback with a brilliant idea to fulfill the dream of India’s middle-class home. He founded HDFC as a financial institution in 1977 and gave the first home loan in 1978.

By 1984, HDFC was sanctioning annual loans of over Rs 100 crore. In 1992, the Government of India honored HT Parekh with the Padma Bhushan. HDFC and HDFC Bank have merged, creating a larger entity worth Rs 14.14 lakh crore.

Please state that Deepak Parekh, former chairman of HDFC, is the nephew of Hasmukh Thakurdas Parekh. When Hasmukh Parekh founded this bank, he called Deepak Parekh from London to join his business. Who knew that this decision of Hasmukh Thakurdas would prove to be historic.

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