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Business News/ Markets / Lok Sabha elections 2024: ‘Process is slow, people went back without…,’ says former HDFC Chairman Parekh
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Lok Sabha elections 2024: ‘Process is slow, people went back without…,’ says former HDFC Chairman Parekh

Lok Sabha Elections 2024: Lok Sabha elections Phase 5 continues with low voter turnout and slow process, as witnessed by Parekh in Mumbai. Deepak Parekh stepped down as HDFC chairman before HDFC's merger with HDFC Bank in 202

Deepak Parekh - Former Chairman HDFC LimitedPremium
Deepak Parekh - Former Chairman HDFC Limited

Lok Sabha Elections 2024: Voter turnout is low, but the process is slow. People have waited for an hour and gone back without voting, said former HDFC Chairman Deepak Parekh while addressing the media following his vote at a polling booth in Peddar Road, Mumbai.

Mumbai's vote percentage has been exceptionally dismal for a very long time. Parekhhopedthis isn't the case this time.

"I was very disappointed. I asked the voting man who took their check, the name, and all that. What is the turnout now? He said it was low.

Also Read: Indian stock market will break records on June 4: PM Modi on Lok Sabha election results

South Bombay, and it's low, but the process is slow too. So I know some people who have stood for an hour and gone because the climate is very hot," said Deepak Parekh.

In addition, Chairman Deepak Parekh was questioned by the media on how crucial political stability would be to the future stability of policy. He said:

"It's absolutely necessary to have a stable government, and stability is the key for progress. So we need stability. We need good leadership at the centre which we've had for the last 10 years. And so we hope that whichever party is elected their stability," said Parekh.

Also Read: Lok Sabha Election 2024 Phase 5 Voting Live Updates: 37% voter turnout in 49 seats till 1 pm, 52% polling in Ladakh

"We have to grow rapidly. Infrastructure is getting good in Mumbai. The priority of the government will be to bring the lower strata up. With 7-9 pc growth rate, India will be a different place,"told Deepak to PTI. 

On June 30,2023, the eve of HDFC's historic merger with HDFC Bank, Deepak Parekh, the chairman of Housing Development Finance Corporation (HDFC), announced his retirement following a 45-year career that saw the formation of the largest financial services conglomerates in India.

Also Read: NSE, BSE shut today on account of Lok Sabha Elections

The general elections for 2024 are currently in its fifth phase (Phase 5), today,Monday, May 20. Voting is being conducted for up to 49 Lok Sabha seats; these seats are spread across six states and two Union territories (UTs).

Phase 5 of the Lok Sabha elections is now underway in the states of Bihar, Uttar Pradesh, West Bengal, and Maharashtra. Voting in four of the seven phases has been concluded on April 19, April 26, May 7, and May 13.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 20 May 2024, 02:24 PM IST
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