Vigilance will probe into allegations of favouring a private bank by the then Project Director of DRDA cum Chief Executive Officer of DMFT, Jharsuguda violating norms in regard to deposit of huge sum of fund of District Mineral Foundation Trust (DMFT) in the district.

It is learnt that more than Rs 69 crore was deposited in the bank account without knowledge of the then district Collector Paramesaran B. After the mater became public, the Vigilance has directed for probe into the matter.

Sources said an amount of Rs 69,73,98,000 of DMFT was deposited in a private bank till May. As per circular of State Finance Department, State grant can be deposited only in 11 notified nationalized banks, two regional banks and one private bank. But violating all norms, the money was deposited in an un-notified private bank under savings account carrying less interest rate resulting in loss to the State exchequer to a tune of more than Rs 20 lakh per month. Read More