Smt. Parminder Chopra has taken charge as the Chairman and Managing Director (CMD) of Power Finance Corporation Limited (PFC) as of August 14, 2023, appointed by the Government of India.
Prior to this, she held the additional charge of CMD from June 1, 2023, and served as the Director (Finance) at PFC since July 1, 2020. With this appointment, Smt. Chopra becomes the first woman to lead India’s largest NBFC, PFC.
During her tenure as Director (Finance), she led the Finance Division to achieve the highest Net Profit, highest Net Worth, and lowest NPA levels in PFC’s history. This strong financial performance also contributed to PFC being awarded the prestigious “Maharatna” status. Additionally, she played a pivotal role in the successful implementation of the INR 1.12 trillion Liquidity Infusion Scheme (LIS) for the power distribution sector, launched as part of the Atmanirbhar Bharat initiative by the Government of India.
Smt. Chopra brings over 35 years of diverse experience in the Power and Financial sectors. At PFC, she managed key finance functions including resource mobilization (both domestic and international markets), banking, treasury, asset liability management, and stressed asset resolution.
Her past experience includes positions with significant power sector organisations such as NHPC Limited and Power Grid Corporation of India Limited. This unique blend of experience positions her well to lead PFC through its transformational journey.
Under her leadership, PFC is expected to play a crucial role in financing India’s energy transition goals, as well as funding the power and infrastructure sectors. As India’s largest renewable energy financier, PFC has significantly increased its funding to clean energy projects, including electric vehicles, biofuels, hybrid renewables, and renewable equipment manufacturing. Recently, PFC signed MoUs with clean energy developers amounting to ₹2.40 lakh crore, solidifying its position as a principal financier of clean energy projects. Smt. Chopra will continue to support the implementation of key government initiatives such as the Revamped Distribution Sector Scheme (RDSS) and the Late Payment Surcharge (LPS) rules.
Smt. Chopra got a Bachelor of Commerce degree from Delhi University and is a qualified Cost and Management Accountant.
She also has a Post Graduate Diploma in Business Management and has attended advanced programs on Risk Management and Global Management at Harvard University, USA, and the European School of Management.
In 2023, the Institute of Cost Accountants of India honoured her with the prestigious ‘Icon of the Year’ award for her enormous achievements to business, society, and the nation.
Additionally, she received the “Finance Leader of the Year” Award for her outstanding contributions to the finance industry.
These awards recognise her outstanding accomplishments and long-lasting impact on a variety of fronts.