India is a country of rising aspirations. Such a country, whose half of the population is young and is running on the path of progress with a lot of energy and speed. The banking world has a big contribution in this journey of the country. In today’s world, India has made a name for itself in the world of global banking and finance. The contribution of some people has been very special in reaching this point and Deepak Parekh is the first name of those people. Today finally called an end to our decades old journey with Veteran banker Parekh has taken retirement at a time when HDFC’s name is about to join the five largest banks in the world. HDFC Bank will become the fourth largest bank in the world as soon as the date changes. With this a new history will also be created. This will be the first time in history that one of the five largest banks in the world will be from India.
Biggest deals done on the go
India’s biggest banks This achievement is going to be achieved by the merger of HDFC Bank and HDFC, the largest mortgage lender. This merger is going to be effective from July 1, Saturday. This deal has been done for about $ 40 billion and it is being described as the biggest deal in India’s corporate history so far. Funny that Deepak Parekh has a big role in making this history too.
India’s gain, America’s loss
Deepak Parekh’s journey with HDFC is about 45 years old and this Many histories have been made in the long journey of decades. It is about the year 1978. Young banker Deepak Parekh got an offer from a top American banker and made up his mind to go. At the same time Hasmukh Parekh offered him to join HDFC. HDFC’s offer was less than half that of American banks, but a word from Hansmukh Parekh made young Deepak stop there. Actually the experienced cheerful young man was recognizing the talent of Deepak and he had clearly said… India needs your banking talent.
The last letter of the veteran banker
Today Deepak Parekh has written a letter to the customers, investors and shareholders of HDFC calling the journey an end. In this, he explains how the home loan portfolio is going to shape the future of HDFC Bank in the days to come. He says that home loans mark a crucial milestone in the banking journey of lakhs of people and thus HDFC Bank is going to get a large number of customers who have HDFC home loans.
Narayan Murthy They were also convinced
When it came to home loan, I remembered a very important thing. Infosys co-founder Narayan Murthy is also an important character in this story. It is about the time when Narayan Murthy had not become a billionaire. Like a common middle class working Indian, he was also dreaming of his own house. To fulfill this dream, he also needed a home loan. In search of loan, he reached HDFC, where he met Deepak Parekh’s team. Narayan Murthy explains that his entire perception about home loans changed as HDFC helped him through the entire process. Deepak Parekh is credited with taking home loans to the masses in India.
Parekh’s belief… legacy will carry on
Now the question arises… Deepak Parekh What next after stopping the historic journey of… So take the answer from Deepak Parekh himself. Parekh writes in his last letter… ‘Our history cannot be erased. Our legacy will be carried forward.’
