R.S. Dhillon, CMD, PFC conferred with prestigious Skoch India Economic Forum Award
Shri Dhillon received this award from Shri Bibek Debroy, Chairman of the Economic Advisory Council to the Prime Minister of India and Shri Sameer
New Delhi: Shri Ravinder Singh Dhillon, Chairman & Managing Director of Power Finance Corporation Ltd (PFC), a Maharatna Company and India's leading NBFC in the power sector, was conferred with the prestigious “SKOCH INDIA ECONOMIC FORUM AWARD” in recognition of his stellar leadership, path-breaking energy transition initiatives, remarkable achievements and contribution to the accelerated development of the Power Sector.
Shri Dhillon received this award from Shri Bibek Debroy, Chairman of the Economic Advisory Council to the Prime Minister of India and Shri Sameer
Kochhar, CEO, SKOCH group at a glittering ceremony held at Dr Ambedkar International Centre, New Delhi.
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The award ceremony was marked by the presence of dignitaries and key officials from State & Central PSUs, key personnel from the government, senior Bureaucrats and policymakers.
Leading from the front with a 3-pronged strategy, involving assessment growth through diversification, reduction in borrowing cost and strengthening of internal systems to improve asset quality, Ravinder Singh Dhillon has steered the Power Finance Corporation to attain the status of Maharatna from Navratna earlier and also piloted PFC’s business diversification efforts, both by cross-border funding and expanding the business into new market segments in infrastructure & logistics space like funding of e-Mobility, Metro Projects, Nuclear Energy, Bio-ethanol, Oil Refineries, Lift Irrigation Projects, etc.
Read Also : Reserve Bank of India imposes monetary penalty on Union Bank of IndiaIt was due to his efforts leading to liquidity infusion to Discoms during Covid that maintained the power sector value chain, averting the crisis. He played a pivotal role in growing the PFCs RE loan book, registering a 5-year CAGR of 46%. Sanctioning Financial assistance to India’s first RE-integrated pumped storage project was spearheaded by him that saw PFC’s RE portfolio crossing the 15,000 MW milestone.
PFC also raised EUR 300 million in Green Bonds and mobilised Rs 4,429 cr through domestic retail bonds, under his leadership. During last 6 years, PFC has reported lowest-ever net NPA of 1.31%, down from 7.39% in 2019.
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