Centre asks IAS, IPS & IFS to furnish their investment details of last six months
If they have invested in share, stocks and elsewhere in excess of their six months’ basic pay.
The Central Government has issued an order seeking information regarding investment in the share, stocks and elsewhere by IAS, IPS and IFS officers in excess of their six months’ basic pay. The ministry of personnel has issued an order to this effect.
This information is in addition to the AIS or similar information shared by them under Rule 16(4) of the All India Services (Conduct) Rules, 1968. These rules are applicable on members of the three all-India services, the Indian Administrative Service, the Indian Police Service and the Indian Forest Service.
The order issued by the Ministry of Personnel read, with a view to enable administrative authorities to keep a watch on transactions in any stock, share or other investment etc. in respect of members of the All India Services (AIS), this decision has been taken.
If the total transaction in stock, share or other investment etc. exceeds six months’ basic pay of the government employee during a year, information is furnished in the prescribed format.
It refers to Rule 14(1) of the Conduct Rules, which states that “no member of the Service shall speculate in any stock, shares or other investments except through stock-brokers or other authorized persons”. Will not apply to time investment made.