New Delhi: Parminder Chopra has taken over as Director (Finance) of Power Finance Corporation (PFC), India's leading NBFC and Navratna PSU under the Ministry of Power, on Wednesday. Prior to assuming charge as Director (Finance), she was serving as Executive Director (Finance) in the same organisation. With her new charge, Chopra has succeeded NB Gupta, who superannuated on June 30. According to an earlier order from the Department of Personnel & Training (DoPT), Chopra has been appointed on the post for a period of five years with effect from July 1, till the date of her superannuation, or until further orders, whichever is the earlier.
According to an earlier report of PSU Watch, Chopra was recommended for the post of Director (Finance) of PFC by a PESB panel. She was selected from a list of eight candidates, who were interviewed by the selection panel. She also serves as Director on the Board of Coastal Tamil Nadu Power Limited and Cheyyur Infra Limited.
Chopra's profile
Chopra is a Cost Accountant and also completed an MBA (Finance). She has over 32 years of rich and varied experience in the field of Account & Finance. 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 organisations in the power sector like National Hydroelectric Power Corporation of India (NHPC) and Power Grid Corporation of India (PGCIL).
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 percent to 15 percent within a short span of two years.
Chopra has also been lauded for many firsts including launch of PFC's maiden Green Bond issue and PFC's first fundraising from US bond market under sec 144(a). She also played a key role in PFC's mega acquisition of the government's holding of 52.63 percent in REC Limited and overcame challenges related to PFC's capital adequacy levels and negotiations with various parties regarding PFC's borrowing agreements & domestic & international credit rating.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)