Murthy's first house in Mumbai was bought on ₹70,000 loan from HDFC: Chairman

India's largest mortgage lender HDFC's Chairman Deepak Parekh recalled that Infosys Co-Founder Narayana Murthy's first house in Mumbai was bought on a ₹70,000 loan from HDFC. Parekh added the loan was granted only on the basis of an appointment letter. He said despite challenges like the absence of security enforcement for defaults, HDFC adopted a unique model for business.