Sudhin Choksey

Sudhin Choksey (born 31 January 1954) is the executive director (designate) of Bandhan Bank[1][2] and former managing director & CEO of Gruh Finance Limited.[3] He is considered as one of the foremost authority in affordable housing finance and mortgage insurance in India.[4]

Early life and education

Choksey completed his schooling from New Era School, Mumbai and later graduated from Sydenham College of Commerce and Economics (affiliated to the University of Mumbai). To qualify for chartered accountancy, he completed his articleship with G.P. Kapadia & Company, Mumbai and in 1978 he finally passed his A.C.A. examinations. Currently, he is a fellow member of the Institute of Chartered Accountants of India.

Personal life

Choksey is married to Anjali. They have two sons Ajay Choksey who is a gastroenterologist, and Aashay Choksey, a chartered accountant.

Career

Choksey commenced his professional career as a credit officer with Housing Development Finance Corporation in 1978 and then worked for AIG, Bahrain. Later, he migrated back to India and joined Deepak Nitrite Limited as a finance manager for their new project.

Choksey joined GRUH Finance Limited in 1993 as General Manager of the company. He was appointed as an Executive Director on the Board of the company in May 1996. He was appointed as CEO of the company in November 1998 and then as Managing Director in June 2000.[5] In 2019, he led the merger of GRUH Finance with Bandhan Bank.[6][7] Post-merger, he joined the latter as an executive director (designate).[8]

Choksey is an independent director on the board of HDFC Credila Financial Services. He has held the positions of an independent director on the board of Deepak Nitrite Limited, Gujarat Ambuja Exports Limited, and Light Microfinance Private Limited, in the past. He was also on the board of Gujarat State Financial Services Limited (a Government of Gujarat Undertaking) and Hunnar Shaala Foundation For Building Technology and Innovations.

In 2014, Choksey joined the National Taskforce on Rural Housing and Habitat set up by Ministry of Rural Development (India) for rural housing finance.[9]

Affordable Housing Market

Choksey is considered as one of the strongest advocates for affordable housing in India. Often, he has supported various socio-economic researches[10] and piloted affordable housing projects in rural part of Gujarat.[11] His views on the dynamics of Indian housing market are regularly the part of business news broadcast such as; BloombergQuint,[12] BTVI,[13] CNBC TV18,[14] ET Now[15][16][17][18] and NDTV Profit.[19]

Awards

Choksey was the recipient of the Institute of Chartered Accountants of India Business Leader Financial Services Award for the Year 2015.[20]

See also

References
  1. editor (2019-10-29). "Bandhan Bank looks to scale up presence in home loan segment". Square Capital. Retrieved 2020-02-07.CS1 maint: extra text: authors list (link)
  2. "Bandhan Bank looks to ramp up home loan portfolio". Moneycontrol. Retrieved 2020-02-07.
  3. "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2020-02-07.
  4. Das, Chandrima; Karamchandani, Ashish; Thuard, Johan (2018). "State of the Low-income Housing Finance Market 2018" (PDF). Federation of Indian Chambers of Commerce & Industry.
  5. "How Sudhin Choksey Carved A Niche For Gruh Finance". Forbes India. Retrieved 2020-02-07.
  6. "Talks on for Bandhan Bank, GRUH Finance merger". The Economic Times. 2018-12-22. Retrieved 2020-02-07.
  7. "Bandhan Bank, Gruh Finance to merge on October 17". The Economic Times. 2019-10-04. Retrieved 2020-02-07.
  8. "Bandhan Bank looks to ramp up home loan portfolio". Moneycontrol. Retrieved 2020-02-07.
  9. "The National Taskforce on Rural Housing and Habitat" (PDF). Ministry of Rural Development (India). Government of India. March 25, 2014.
  10. Estate, Real; Asia-Pacific; India. "Gruh Finance: Serving the Underserved in the Housing Sector". Knowledge@Wharton. Retrieved 2020-02-07.
  11. Burger, Nicholas; Gutierrez, Italo; Kumar, Krishna B.; Luoto, Jill E.; Monani, Dhaval; Raichura, Kavita (2014), "The Ashray Housing Project", The Socioeconomic Effects of the Working Poor Moving to Permanent Dwellings, The Case of the Ashray Affordable Housing Pilot Project in India, RAND Corporation, pp. 5–8, JSTOR 10.7249/j.ctt14bs2q2.10
  12. "Gruh Finance Sees Good Demand Home Loans For Next 12-15 Months". BloombergQuint. Retrieved 2020-02-07.
  13. Watch: | The West Australian, retrieved 2020-02-07
  14. "Expect second half of FY19 to be more positive: Gruh Finance". Moneycontrol. Retrieved 2020-02-07.
  15. Mar 2015, 09; Ist, 11:11 Am, RBI home loan norm a fillip to affordable housing, retrieved 2020-02-07CS1 maint: numeric names: authors list (link)
  16. Oct 2015, 09; Ist, 09:12 Am, Reduction of risk weightage to expand loan asset, retrieved 2020-02-07CS1 maint: numeric names: authors list (link)
  17. "Sudhin Choksey of Gruh Finance speaks on Q3 performance & stock value post deal". www.timesnownews.com. Retrieved 2020-02-07.
  18. "HFC Ruling - Hit On Developers | Sudhin Choksey of Gruh Finance To ET NOW". www.timesnownews.com. Retrieved 2020-02-07.
  19. Affordable Housing Should be Prioritised: Gruh Finance, retrieved 2020-02-07
  20. "List of Awardees of ICAI Awards 2015" (PDF). Institute of Chartered Accountants of India.
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