Correct Answer : Parminder Chopra
Parminder Chopra, an industry veteran, has been formally appointed as the new chairman and managing director (CMD) of Power Finance Corporation (PFC) Limited. This appointment, as confirmed by PFC to the stock exchanges, makes her the first woman to lead the country's largest non-banking financial company (NBFC).
The Ministry of Power has approved Chopra's appointment "till the date of her superannuation (April 30, 2027) or until further orders, whichever is earlier", a regulatory filing stated.
Chopra was, since June 1, holding the additional charge of CMD, while also discharging her role as the director (finance), which she had assumed since July 2020.
About Parminder Chopra :
* The new PFC head has a cumulative experience of over 35 years, spanning across power and financial sectors. In her last stint as the company's director (finance), she "spearheaded the Finance Division, leading to highest Net Profit, highest Net worth and lowest NPA levels. its highest net Profit, highest Net worth and lowest NPA levels", the NBFC said.
* The robust financial performance, for which Chopra is credited, also allowed the public sector firm to attain the highest status of “Maharatna”.
* She had also played a key role in the successful implementation of Rs 1.12 trillion Liquidity Infusion Scheme (LIS) for the power distribution sector, PFC said. The scheme was rolled out as part of the Centre's Atmanirbhar Bharat initiative.
* As the CMD, she will be "providing impetus to PFC’s crucial role of financing India's energy transition goals apart from funding power & infrastructure sectors", the exchange filing noted.
* Chopra had joined PFC in 2005, and was working as executive director (finance) before assuming the director (finance) charge in 2020. She was heading key finance functions including resource mobilisation (domestic & international markets), banking, treasury, asset liability management and stressed asset resolution.
* Her prior experience includes service in power sector majors like NHPC and Power Grid Corporation of India. In terms of educational background, she holds a Bachelor's degree in Commerce from Delhi University and is a qualified Cost and Management Accountant..
Source : Money Control
