Parminder Chopra takes over as first full-time women PFC Chairman, MD

Chopra becomes the first woman to lead India's largest non-banking finance company PFC, the company said

State-owned Power Finance Corporation (PFC) on Wednesday said Parminder Chopra has taken over as its first full-time women Chairman and Managing Director.

"Parminder Chopra has been appointed as Chairman and Managing Director (CMD) of PFC by the Government of India from 14th August 2023. Previously, she was holding the additional charge of Chairman and Managing Director (CMD) from June 1, 2023, and was Director (Finance), PFC, since July 1, 2020," a company statement said.

With this, the company said, Chopra becomes the first woman to lead India's largest non-banking finance company PFC.

During her term as Director (Finance), she spearheaded the Finance Division, leading to the highest net profit, highest net worth and lowest NPA levels. Such robust financial performance has also facilitated PFC getting the highest status of 'Maharatna'.

She also played a key role in the successful implementation of the Rs 1.12 lakh crore Liquidity Infusion Scheme (LIS) for the power distribution sector, which was rolled out as part of the Atmanirbhar Bharat initiative.

She has over 35 years of varied experience in the Power and Financial Sector.

In PFC, she was heading key finance functions, including resource mobilisation (domestic and international markets), banking, treasury, asset liability management and stressed asset resolution. Her prior experience includes service in power sector majors like NHPC Limited and Power Grid Corporation of India Limited.

With her taking over, she will be providing impetus to PFC's crucial role of financing India's energy transition goals apart from funding power and infrastructure sectors.

She will continue to provide support in the implementation of key power sector initiatives of the government, including Revamped Distribution Sector Scheme (RDSS) and Late Payment Surcharge (LPS) rules.

Chopra holds a Bachelor's degree in Commerce from Delhi University and is a qualified Cost and Management Accountant. She also has a Post Graduate Diploma in Business Management.

She has attended advanced programmes on Risk Management and Global Management in world-renowned institutes -- Harvard University, US, and the European School of Management.