NewsVoir
New Delhi [India], August 18: Parminder Chopra has been appointed as Chairman and Managing Director (CMD), of Power Finance Corporation Limited (PFC) by Govt. of India w.e.f. 14th August, 2023. Previously, she was holding the additional charge of Chairman and Managing Director (CMD), w.e.f 01.06.2023 and was Director (Finance), PFC since 01.07.2020. With this, Chopra becomes the first woman to lead India’s largest NBFC, PFC.
During her term as Director (Finance), she spearheaded the Finance Division, leading to highest Net Profit, highest Net worth and lowest NPA levels. Such robust financial performance has also facilitated PFC getting the highest status of “Maharatna”. She had also played a key role in the successful implementation of INR 1.12 trillion Liquidity Infusion Scheme (LIS) for the power distribution sector, which was rolled out as part of Atmanirbhar Bharat initiative by Govt. of India.
She has over 35 years of varied experience in Power and Financial Sector. In PFC, she was heading key finance functions including resource mobilization (domestic & international markets), banking, treasury, asset liability management and stressed asset resolution. Her prior experience includes service in power sector majors like NHPC Limited and Power Grid Corporation of India Limited. She is in a unique position to leverage the rare blend of experience in Power and Financial Sector and lead PFC’s transformational journey.
With her taking over, she will be providing impetus to PFC’s crucial role of financing India's energy transition goals apart from funding power & infrastructure sectors. Under her leadership, PFC as India’s largest renewable energy financier has significantly increased funding to clean energy projects including funding of Electric Vehicles, Bio fuels, hybrid renewables like Round The Clock, renewable equipment manufacturing etc. and recently signed MoUs with clean energy developers for Rs. 2.40 Lakh Crs and emerging as the principal financier of clean energy projects. She will continue to provide support in implementation of key power sector initiatives of the Government of India including Revamped Distribution Sector Scheme (RDSS) and Late Payment Surcharge (LPS) rules.
Chopra holds a Bachelor's degree in Commerce from Delhi University and is a qualified Cost and Management Accountant. She also has a Post Graduate Diploma in Business Management. She has attended advanced programmes on Risk Management and Global Management in world renowned institutes i.e. Harvard University, USA and European School of Management. In the year 2023, Parminder Chopra has been honored with the esteemed 'Icon of the Year’ award by the Institute of Cost Accountants of India for making significant contributions to the realms of business, society, and the nation. In addition to this recognition, during the same year she has also been conferred with the "Finance Leader of the Year" Award for her outstanding contributions to the finance industry. These accolades highlight her exceptional achievements and enduring impact on various fronts.
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