New Delhi(India), 17/08/23: Parminder Chopra was appointed Chairman and Managing Director (CMD) of Power Finance Corporation on August 14. Chopra has thus become the country’s first female CEO of a non-bank financial company (NBFC).
Parminder Chopra formerly held the additional role of CMD, as well as Director (Finance), with effect from June. During her tenure as Director (Finance), the finance division achieved its highest net profit, net worth, and NPA levels. This led to Power Finance Corporation gaining the highest title of ‘Maharatna’.
She was also instrumental in the successful implementation of a ₹1.12 lakh crore liquidity infusion scheme for the power distribution sector as part of the Atmanirbhar Bharat.
Parminder Chopra is a power and finance industry veteran with over 35 years of expertise. Chopra has led major finance functions of Power Finance Corporation, including banking, treasury, asset liability management, and stressed asset resolution.
She had previously worked for firms in the electricity sector such as NHPC Limited and electricity Grid Corporation of India Limited.
Her responsibilities would include financing India’s energy transition ambitions, as well as funding the power and infrastructure industries. Under her leadership, PFC has considerably boosted investment for clean energy projects such as electric vehicles, biofuels, hybrid renewables, and renewable equipment manufacturing.
The corporation has inked Memorandums of Understanding (MoUs) with clean energy developers worth ₹2.40 lakh crore in order to become the primary lender of clean energy projects.
Parminder Chopra is a trained Cost and Management Accountant with a Bachelor’s degree in Commerce from Delhi University. She also holds a Post Graduate Diploma in Business Administration. In 2023, she was named ‘Icon of the Year’ by the Institute of Cost Accountants of India.
She was also named ‘financial Leader of the Year’ for her remarkable contributions to the financial industry.
