DVC power dues: Centre deducts Rs 714 crore again from Jharkhand’s RBI account; state likely to approach court

RANCHI: In yet another action by the Union Power Ministry to settle the dues of Damodar Valley Corporation (DVC), Rs 714 crore was auto debited again from Jharkhand’s account with the Reserve Bank of India towards clearing the dues of Power Generation Company.

Notably, the State Government, through a Cabinet decision on January 6, had decided to exit the tripartite agreement, signed with the RBI and Power Ministry, which enabled the Power Ministry to settle the dues of DVC from RBI account of Jharkhand.

“The Union Power Ministry has deducted Rs 714 crore from Jharkhand’s account with the Reserve Bank of India towards clearing the dues of power generation company Damodar Valley Corporation,” said Finance Minister Dr Rameshwar Oraon.