Power Finance Corporation (PFC) has appointed Parminder Chopra as Chairman and Managing Director (CMD); she becomes the first woman to lead India’s largest NBFC.

Chopra assumed the top job at the power sector lender with effect from August 14, 2023. She earlier held additional charge as CMD from June 1, and was Director (Finance) from July 1, 2020, PFC said.

“During her term as Director (Finance), PFC reported its highest net profit, highest net worth and lowest NPA levels. The robust financial performance enabled PFC to get Maharatna status,” it added.

Also read: PFC net profit grows 31% Y-o-Y in Q1 FY24

She also played a key role in the successful implementation of a 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.

Chopra has over 35 years of experience in the power and financial sector. At PFC, she has headed key finance functions, including resource mobilisation (domestic and international markets), banking, treasury, asset liability management and stressed asset resolution.

Her prior experience includes stints in power sector majors such as NHPC and Power Grid Corporation of India.

Under her leadership, PFC has increased funding to clean energy projects, including funding of electric vehicles, bio-fuels, hybrid renewables like Round The Clock, renewable equipment manufacturing, and recently signed MoUs with clean energy developers worth Rs 2.40 lakh crore, to emerge a principal financier of clean energy projects.

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.