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The Panchet Dam is located in the district of Dhanbad in Jharkhand. The last to be built out of the four multi-purpose dams that were constructed under the Damodar Valley Corporation or DVC, the Panchet Dam first opened in 1959. The dam gets its name for the nearby Panchet Hill that rises above the dam. It is a favourite tourist spot and easily accessible for day trips from Dhanbad and Asansol. Built across the Damodar River that forms a natural border between Jharkhand and West Bengal, the Panchet Dam is constructed above the confluence of the Barakar and Damodar Rivers. The northern flank of the reservoir thus falls under the Dhanbad district, and the southern bank is under the Purulia district of West Bengal.