A significant milestone has been achieved as Parminder Chopra takes the helm of Power Finance Corporation (PFC) as its Chairman and Managing Director (CMD), becoming the first woman to lead India’s most prominent Non-Banking Financial Company (NBFC). This historic appointment, effective from August 14, 2023, places Chopra at the forefront of PFC’s journey, signaling an era of transformative leadership. Notably, she previously held the position of CMD on an additional charge basis since June 1, following her role as Director (Finance) starting from July 1, 2020. Noteworthy among her accomplishments is her instrumental role in orchestrating the successful implementation of the Rs 1.12 lakh crore Liquidity Infusion Scheme (LIS) tailored for the power distribution sector, a pivotal initiative under the Atmanirbhar Bharat movement.
With a career spanning over 35 years, Parminder Chopra is a seasoned veteran in both the power and financial sectors. Her tenure at PFC has been marked by her oversight of critical finance functions, ranging from resource mobilization in domestic and international markets to banking, treasury management, asset-liability management, and the resolution of stressed assets. Her earlier experiences encompass significant roles in renowned power sector entities like NHPC and Power Grid Corporation of India.
Under her visionary stewardship, PFC’s commitment to clean energy projects has reached new heights. This includes substantial funding for projects related to electric vehicles, biofuels, hybrid renewables like Round The Clock power, renewable equipment manufacturing, and strategic MoUs with clean energy developers worth Rs 2.40 lakh crore. These initiatives have positioned PFC as a cornerstone financier for the burgeoning clean energy sector.
Parminder Chopra’s academic foundation is robust, with a Bachelor’s degree in Commerce from Delhi University. Her expertise in financial management is further validated by her qualification as a Cost and Management Accountant. To complement her proficiency in leadership and management, she holds a Post Graduate Diploma in Business Management.
Power Finance Corporation (PFC), established in 1986, stands as a pivotal financial institution dedicated to powering the development of India’s power sector. With a commitment to funding and financial assistance for diverse power and energy-related projects, PFC plays an instrumental role in shaping the nation’s energy landscape. The institution’s strategic focus extends to the expansion, modernization, and enhancement of power generation, transmission, and distribution endeavors. This involves providing financial solutions to both public and private entities operating within the power industry, contributing significantly to the country’s energy progress.