Centre directs all India service officers to inform about stock market related transactions
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The Centre has directed Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS) officers to inform if their total transactions in stock, share or other investments exceed their six months' basic pay in a calendar year.
An order from the Ministry of Personnel, Public Grievances and Pensions, said: "With a view to enable the administrative authorities to keep a watch over the transactions in any stock, share or other investments etc. In respect of members of All India Services (AIS), it has been decided that an intimation may be sent in the enclosed proforma to the prescribed authority every year, if the total transactions in stock, share or other investments etc. exceed six months' basic pay of government servant during a calendar year."
These rules are applicable to members of the three all India services.
It referred to Rule 14 (1) of the conduct rules that says "no member of the service shall speculate in any stock, share or other investments but this provision will not apply to occasional investment made through stock-brokers or other persons duly authorised on licence under the relevant law".
