Inform about stock market related transactions; Centre tells all India service officers [details]

The Centre has directed Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS) officers to tell if their complete transactions in stock, share or different investments exceed their six months’ primary pay in a calendar yr.

An order from the Ministry of Personnel, Public Grievances and Pensions, mentioned: “With a view to allow the executive authorities to maintain a watch over the transactions in any stock, share or different investments and so forth. In respect of members of All India Services (AIS), it has been determined that an intimation could also be despatched within the enclosed proforma to the prescribed authority yearly, if the overall transactions in stock, share or different investments and so forth. exceed six months’ primary pay of presidency servant throughout a calendar yr.”

These guidelines are relevant to members of the three all India providers.

It referred to Rule 14 (1) of the conduct guidelines that claims “no member of the service shall speculate in any stock, share or different investments however this provision won’t apply to occasional funding made by stock-brokers or different individuals duly authorised on licence underneath the related legislation”.

The order was issued on March 20.

(With inputs from IANS)