In a historic move that marks a significant milestone in India’s corporate and energy finance landscape, Parminder Chopra has officially assumed the charge as the Chairman and Managing Director (CMD) of Power Finance Corporation Limited (PFC), effective August 14, 2023.
Appointed by the Government of India, this pivotal moment not only places a seasoned finance leader at the helm of the country’s largest non-banking financial company (NBFC), but it also breaks the glass ceiling—Parminder Chopra is the first woman ever to lead PFC in its distinguished history.
Rising to the Top: A Journey Marked by Resilience, Dedication, and Excellence
With a career spanning over 35 years in the power and financial sectors, Parminder Chopra’s ascent to the top echelons of Indian finance is the embodiment of relentless perseverance, strategic insight, and visionary leadership. Her story is not just one of individual success—it is a symbol of empowerment, illustrating how deep-rooted expertise and purpose-driven action can revolutionize an entire industry.
Prior to being formally appointed CMD, Chopra held the additional charge of CMD from June 1, 2023, while serving as the Director (Finance) of PFC since July 1, 2020. In this role, she was the force behind PFC’s exemplary financial performance, achieving the highest Net Profit, highest Net Worth, and lowest Non-Performing Asset (NPA) levels in the organization’s history.
Powering India’s Financial Strength: A Woman of Firsts
Under her stewardship, PFC’s momentum accelerated, allowing the institution to be granted the coveted “Maharatna” status, a title reserved for the most successful public sector enterprises in India. Chopra’s financial acumen was instrumental in implementing the ₹1.12 trillion Liquidity Infusion Scheme (LIS), a cornerstone of the Atmanirbhar Bharat initiative that played a critical role in stabilizing the power distribution sector during the pandemic.
In an industry long dominated by men, Parminder Chopra’s elevation to CMD of PFC is more than a title—it is a turning point. She stands not just as a corporate leader but as an inspiration for generations of women professionals, proving that barriers are meant to be shattered and legacies are meant to be built.
Parminder Chopra: Championing Renewable Energy and Sustainable Development
Parminder Chopra is not just steering a financial behemoth; she is shaping the future of India’s energy transformation. Under her leadership, PFC has emerged as the nation’s largest renewable energy financier, actively funding a spectrum of clean energy initiatives. This includes Electric Vehicles, Biofuels, Hybrid Renewables like Round The Clock (RTC) projects, and renewable equipment manufacturing.
Her vision goes beyond balance sheets—it is about sustainability, climate responsibility, and ensuring that India meets its energy transition goals. Recently, PFC signed Memorandums of Understanding (MoUs) worth ₹2.40 lakh crore with clean energy developers, reinforcing its role as the principal financier of India’s green future.
Taking the Lead at REC Limited
In another bold stride, Parminder Chopra has also been appointed as CMD of REC Limited—a concurrent role she holds for a three-month tenure while continuing as CMD of PFC. This dual responsibility is a testament to the trust and confidence the government and industry stakeholders place in her leadership.
By leading both PFC and REC—two crucial players in the power financing ecosystem—Chopra is uniquely positioned to synergize operations, align strategic goals, and amplify India’s efforts toward energy equity and infrastructure development.
Leadership Rooted in Knowledge and Global Perspective
A graduate in Commerce from Delhi University, Chopra is a qualified Cost and Management Accountant and holds a Post Graduate Diploma in Business Management. Her credentials are further enriched by advanced executive programs in Risk Management and Global Strategy from world-renowned institutions like Harvard University and the European School of Management.
This solid educational foundation, combined with her hands-on experience in finance and energy with public sector giants like NHPC Limited and Power Grid Corporation of India, gives her a multidimensional perspective that few leaders possess.
Recognition and Accolades: A Testament to Her Impact
The year 2023 marked a crescendo of recognition for Parminder Chopra. She was honored as the ‘Icon of the Year’ by the Institute of Cost Accountants of India—a prestigious award acknowledging her groundbreaking contributions to business, society, and the nation.
In the same year, she was also named ‘Finance Leader of the Year’, further cementing her place among the most influential figures in India’s financial landscape. These accolades are not mere decorations; they represent the culmination of decades of hard work, ethical leadership, and visionary thinking.
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