MIMBAI, 1st July 2020 (GNI): Government-owned Power Finance Corporation (PFC), India’s leading NBFC, today announced the appointment of Smt Parminder Chopra as Director (Finance) of the company. She succeeds Shri N.B. Gupta, who superannuated on June 30 2020.
Smt. Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC.
With over 32 years of rich and varied experience, she specializes in handling crucial and core finance functions such as fund mobilisation, corporate accounts, banking & treasury, asset-liability management, stressed asset resolution etc.
Before joining PFC, she was associated with key organizations in the power sector like National Hydroelectric Power Corporation of India (NHPC) and Power Grid Corporation of India (PGCIL).
Smt. Chopra, who joined PFC in 2005, spearheaded the key initiative to diversify PFC’s fund mobilisation to international markets that allowed the lender to raise money at lower costs. With her focussed approach, share of fund mobilisation in foreign currency grew from a meagre 2% to 15% within a short span of 2 years.
Smt. Chopra has also been lauded for many firsts including launch of PFC’s maiden Green Bond issue & PFC’s first fund raising from US bond market under sec 144(a). She also played a key role in PFC’s mega acquisition of Government of India’s holding of 52.63% in REC Ltd. and overcame challenges related to PFC’s capital adequacy levels and negotiations with various parties regarding PFC’s borrowing agreements & domestic & international credit rating.
Smt. Chopra also serves as Director on the Board of Coastal Tamil Nadu Power Limited and Cheyyur Infra Limited.
Smt. Chopra’s rise from her humble beginning as a Cost Accountant & MBA to the top rank of the Finance function at PFC demonstrates her passion, commitment and hard work.
Her deep understanding of PFC’s operations, strengths and focus areas will surely help the power sector lender excel further and achieve more milestones in the coming days, stated in the press release.ends
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