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Our Bureau

New Delhi, July 5 The public provident fund (PPF) scheme seems to have lost its sheen among investors going by the collection trend in the last three fiscal years.

Contributions to the public provident fund scheme fell 35 percentage points in fiscal 2008-09 to Rs 13,597 crore (provisional).

In 2007-08, total mop-up under the PPF scheme was Rs 21,057 crore and in 2006-07, it was Rs 25,953 crore. Another small savings scheme that saw big decline in deposits was the Senior Citizens Savings Scheme 2004.

Deposits under this scheme declined to Rs 1,934 crore in 2008-09 from Rs 3,038 crore in 2007-08 and Rs 12,854 crore in 2006-07. Both PPF and Senior Citizen Savings scheme could be availed through public sector banks.

Meanwhile, post office monthly income scheme continues to be a preferred investment avenue for many investors.

Deposits under the monthly income account increased to Rs 23,799 crore in 2008-09 from level of Rs 17,026 crore in 2007-08.

More Stories on : Small Savings

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