Postal department coughs up 9.9L to PPF depositor

AHMEDABAD: It was a moment of vindication for 52-year-old Saurin Dalal, a resident of Paldi, when, recently, the postal department finally sent him a cheque, releasing the interest on his deposit and other charges, amounting to Rs9.9 lakh. Dalal, had to fight for four years to get his hard earned money back from the grip of the postal department, in whose Public Provident Fund (PPF) scheme he had invested his savings. A city-based consumer action group helped him to assert his rights.

"I had invested a certain amount in the PPF account and when the deposit matured in August 2010, I received the principal amount without the interest. The interest amounted to Rs5.68 lakh," said Dalal.