In a historic move, Parminder Chopra has made history by becoming the first woman to take the helm of the country’s largest non-banking financial company (NBFC). As of today, she holds the prestigious position of Chairman and Managing Director (CMD) at Power Finance Corporation Limited (PFC). This marks a significant milestone as she takes charge of the leading role in the financial sector.
Chopra’s journey to this groundbreaking position has been notable. Previously, she carried the additional responsibilities of CMD from June 1, 2023, while also serving as the Director of Finance at PFC since July 1, 2020. Her journey with PFC began back in 2005, and over the years, she has demonstrated her dedication and leadership skills.
Power Finance Corporation Limited (PFC) operates under the Indian central public sector and falls under the Ministry of Power. With a substantial market capitalization of Rs 70,966 crore as of August 18, 2023, PFC plays a crucial role in the financial landscape. The recent share price of PFC stood at Rs 268 on Friday, indicating its economic significance.
Chopra’s remarkable achievements during her tenure as Director (Finance) are noteworthy. Parminder Chopra played a pivotal role in driving the Finance Division, resulting in impressive accomplishments such as the highest net profit, elevated net worth, and remarkably low non-performing asset (NPA) levels.
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Chopra’s qualifications and experience make her an exceptional leader. Holding a Bachelor’s degree in Commerce from Delhi University and being a certified Cost Accountant, she is well-equipped for her role. Furthermore, she boasts a Post Graduate Diploma in Business Management. With over three decades of experience in the power sector, she has contributed significantly to prominent power sector organizations like the National Hydroelectric Power Corporation of India (NHPC) and Power Grid Corporation of India (PGCIL).
Chopra’s commitment to professional development is evident. She has participated in advanced programs focused on Risk Management and Global Management from esteemed institutions like Harvard University in the USA and the European School of Management. These experiences have undoubtedly contributed to her well-rounded leadership.
In recognition of her exceptional contributions, 2023 has proven to be a year of honors for Chopra. The Institute of Cost Accountants of India bestowed upon her the esteemed ‘Icon of the Year’ award, acknowledging her substantial contributions to business, society, and the nation at large. Additionally, within the same year, she was honored with the “Finance Leader of the Year” Award for her remarkable dedication to the finance industry. These accolades shine a spotlight on her remarkable accomplishments and lasting influence across various domains.
Taking the reins at PFC, Chopra’s leadership is set to provide a significant boost to the organization’s role in financing India’s energy transition goals, as well as supporting the power and infrastructure sectors. This historic appointment marks a pivotal moment in India’s financial sector and paves the way for further diversity and innovation in leadership roles.
