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Government-owned Power Finance Corporation (PFC), India’s leading NBFC, announced the appointment of Parminder Chopra as Director (Finance) of the company. She succeeds N.B. Gupta, who superannuated on June 30, 2020.
Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC. With over 32 years of rich and varied experience, she specializes in handling crucial and core finance functions such as fund mobilization, corporate accounts, banking & treasury, asset-liability management, stressed asset resolution, etc.
Before joining PFC, she was associated with key organizations in the power sector like National Hydroelectric Power Corporation of India (NHPC) and Power Grid Corporation of India (PGCIL).Smt. Chopra, who joined PFC in 2005, spearheaded the key initiative to diversify PFC’s fund mobilization to international markets that allowed the lender to raise money at lower costs. With her focussed approach, the share of fund mobilization in foreign currency grew from 2% to 15% within a short span of 2 years.
Chopra has also been lauded for many firsts including the launch of PFC’s maiden Green Bond issue & PFC’s first fundraising from the US bond market under sec 144(a). She also played a key role in PFC’s mega acquisition of Government of India’s holding of 52.63% in REC Ltd. and overcame challenges related to PFC’s capital adequacy levels and negotiations with various parties regarding PFC’s borrowing agreements & domestic & international credit rating.
She also serves as Director on the Board of Coastal Tamil Nadu Power Limited and Cheyyur Infra Limited.
In May, Indu Shekhar Chaturvedi (IAS) assumed charge as new Secretary, Ministry of New & Renewable Energy. After formally taking over, Chaturvedi met senior officers of the Ministry and took stock of the work and issues before the Ministry.
Before this appointment, Chaturvedi was serving as Additional Chief Secretary and Additional Secretary (Climate Change Department ) of the Ministry of Climate Change Department, Environment & Forest, Government of Jharkhand.