Power Finance Corporation Ltd. (PFC), a Maharatna CPSE and the leading non-banking financial company (NBFC) in the Indian power sector, has been honored with the prestigious South Asian Federation of Accountants (SAFA) Gold Award in the Best Presented Accounts / Annual Report Awards (BPA) for the financial year 2021-22 in the ‘Public Sector Entities’ category.
PFC received this esteemed award for its exceptional transparency in accounting practices and its commitment to presenting high-quality, relevant, reliable, and objective financial statements, adhering to international standards. The award was presented to Smt. Parminder Chopra, CMD and Addl. Charge Director (Finance) of PFC, by Mr. Heshana Kuruppu, Vice-President of SAFA.
SAFA, formed in 1984, represents accountancy bodies from Afghanistan, Bangladesh, India, Nepal, Pakistan, Sri Lanka, and the Maldives, and aims to promote the accountancy profession in South Asia. The SAFA BPA Award is considered one of the region’s most prestigious accolades for financial reporting. Notably, PFC is the first Indian company to win the SAFA Gold in the Public Sector Entities category for two consecutive years, having won the award for FY 2020-21 as well.
Additionally, PFC also won the ICAI (Institute of Chartered Accountants of India) Gold Award for excellence in financial reporting in the same category for the financial year 2021-22.
Smt. Parminder Chopra, CMD, and other senior PFC officials, including Shri Sandeep Kumar, ED (Finance), Shri R.K. Malhotra, ED (Finance), and Shri Mohd. Salim, were present at the award ceremony. This recognition reinforces PFC’s leadership in financial transparency and reporting excellence in the public sector.