The Government of India has appointed Shri Sandeep Kumar as Director (Finance) of Power Finance Corporation Limited (PFC), effective from 11th July 2024. This appointment elevates him from his previous role as Executive Director (Finance), a position he has held since 1st January 2020. Kumar also serves as the Chief Financial Officer (CFO) of PFC.
Shri Sandeep Kumar brings to this role a distinguished career spanning over 34 years in the power and financial sectors. He holds a Bachelor’s degree in Commerce (Honours) and is a Fellow Member of the Institute of Chartered Accountants of India. Throughout his tenure at PFC, Kumar has consistently demonstrated his expertise in various financial functions, significantly contributing to the company’s success and profitability. His leadership is underscored by a strong track record of managing cross-functional teams, fostering innovation to enhance both customer and employee experiences, and solidifying PFC’s market position. Kumar’s diverse experience encompasses fund mobilisation, cash management, asset-liability management, lending operations, stressed asset management, policy formulation, tax planning, financial accounting, and management control systems.
Kumar has been instrumental in managing the non-capex loan portfolio, executing government schemes like the Liquidity Infusion Scheme (LIS) and the Late Payment Surcharge (LPS), and advancing PFC’s Environmental, Social, and Governance (ESG) initiatives. His pivotal role in the successful rollout of the INR 1.12 trillion LIS for the power distribution sector, a key initiative under the Government of India’s Atmanirbhar Bharat program, is a testament to his strategic insight and leadership. As PFC’s Director (Finance), Kumar is expected to continue driving the company’s financial health and strategic initiatives, ensuring robust fiscal management and operational efficiency. His appointment comes at a crucial time as PFC navigates the complexities of the power sector and aligns with the nation’s broader economic and environmental goals.
PFC, a ‘Maharatna’ company under the Ministry of Power, Government of India, plays a critical role in financing power infrastructure projects. It is registered with the Reserve Bank of India (RBI) as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI), and Infrastructure Finance Company (IFC). The corporation’s portfolio spans the entire power sector, including generation, transmission, distribution, renewable energy, and emerging technologies such as electric vehicles, battery storage, and green hydrogen projects. Under Kumar’s financial stewardship, PFC is well-positioned to enhance its contributions to India’s power infrastructure and sustainable development goals. His appointment signifies a continued commitment to excellence and strategic growth in the evolving landscape of the power sector.
