Cabinet Approves Rs 2600 cr Bank Guarantee to GRIDCO
Bhubaneswar: The State Cabinet under the chairmanship of Chief Minister Naveen Patnaik today gave clearance to a proposal for providing Government Guarantee of Rs.2600.00 Crore for the loans to be availed by GRIDCO during Financial Year 2020-21. The guarantee will enable GRIDCO to get about 2 percent interest concession from the Banks. With this the [...]
Bhubaneswar: The State Cabinet under the chairmanship of Chief Minister Naveen Patnaik today gave clearance to a proposal for providing Government Guarantee of Rs.2600.00 Crore for the loans to be availed by GRIDCO during Financial Year 2020-21.
The guarantee will enable GRIDCO to get about 2 percent interest concession from the Banks.
With this the financial cost of GRIDCO to get reduced; and in turn the retail tariff for industries, MSMEs & general consumers shall be lower.
Notably, the state owned GRIDCO is supplying power to four distribution companies of the State at the bulk supply price (BSP) determined by OERC.
In order to ensure uninterrupted power supply to the consumers, State Government has been providing Guarantee for enabling GRIDCO to avail term loans from time to time.
Odisha Cabinet Gives Nod to Food and Procurement Policy for 2020-21
Next ArticleOdisha Govt Accepts State Law Commission Recommendation, to Repeal 215 Appropriation Acts
Related Articles
Odisha Govt Transfers 4 IPS Officers
Bhubaneswar: The Odisha government on Tuesday transferred four IPS officers across the state. According to an official notification issued by the Home Department, Dr. Saravana Vivek M., currently SP of Brahmapur, has been posted as Deputy Commissioner of Police (DCP), Bhubaneswar. He will take charge against Jagmohan Meena, who is to be relieved. Abhinav Sonkar, [...]
Odisha Final Electoral Roll Published With 3.16 Crore Electors
Bhubaneswar: Odisha’s electoral roll revision process has concluded with the publication of the Final Electoral Roll 2026 on Monday, recording 3,16,32,754 electors across the state, the Chief Electoral Officer’s (CEO) office said. The revision was carried out with July 1, 2026, as the qualifying date. The draft electoral roll, published on July 5, had listed [...]
Ganjam Steps Up Preparedness as Deep Depression Threatens Heavy Rainfall; Red Warning for Sept 23-24
Ganjam Steps Up Preparedness as Deep Depression Threatens Heavy Rainfall; Red Warning for Sept 23-24
Chatrapur: The Ganjam district administration has intensified its preparedness measures as a deep depression over the Bay of Bengal is likely to move close to the district, bringing the possibility of heavy rainfall and strong winds. An Orange Warning is currently in force, while a Red Warning has been issued for September 23 and 24. [...]