In a groundbreaking move, Smt. Parminder Chopra has officially assumed the role of Chairman and Managing Director (CMD) at Power Finance Corporation Limited (PFC), effective August 14, 2023, following her appointment by the Government of India. Previously entrusted with the additional responsibilities of CMD since June 1, 2023, and having served as PFC’s Director of Finance since July 1, 2020, Smt. Chopra’s leadership marks a historic first as she becomes the inaugural woman to helm India’s largest Non-Banking Financial Company (NBFC), PFC.
During her tenure as Director of Finance, her strategic guidance propelled the Finance Division to remarkable heights, culminating in record-breaking achievements of the highest net profit, robust net worth, and a notable reduction in non-performing assets (NPA) levels. This exemplary financial performance was a key factor in PFC’s attainment of the prestigious “Maharatna” status. Smt. Chopra was also a pivotal force in the successful execution of the INR 1.12 trillion Liquidity Infusion Scheme (LIS) for the power distribution sector, a vital component of the Atmanirbhar Bharat initiative initiated by the Government of India.
Boasting a wealth of over 35 years of diversified experience within the Power and Financial Sectors, Smt. Chopra played an important role in directing critical financial functions at PFC, encompassing resource mobilization in both domestic and international markets, treasury management, banking, asset liability management, and resolution of distressed assets. Her career encompasses notable contributions to major power sector entities including NHPC Limited and Power Grid Corporation of India Limited, affording her a distinctive advantage in blending her expertise across both the Power and Financial Sectors, thus steering PFC toward a transformative trajectory.
Smt. Chopra’s ascendancy ushers in a new era of strategic leadership for PFC. Her tenure is poised to drive PFC’s crucial role in funding India’s ambitious energy transition objectives alongside providing crucial financial backing to the power and infrastructure domains. Under her guidance, PFC has significantly amplified funding for clean energy projects, spanning Electric Vehicles, Biofuels, and hybrid renewable ventures, positioning PFC as a paramount financier within the clean energy landscape. Notably, recent Memoranda of Understanding (MoUs) inked with clean energy developers amounting to Rs. 2.40 lakh crores solidify her influence as a pivotal figure in clean energy project financing.
In continuation of her impactful influence, Smt. Chopra is poised to provide support in the implementation of key power sector initiatives by the Government of India, inclusive of the Revamped Distribution Sector Scheme (RDSS) and the enforcement of Late Payment Surcharge (LPS) rules, solidifying her position as a cornerstone of India’s energy and financial landscapes.