Centre asks IAS IPS IFS officers to inform it about their stock market related transactions

The Centre has asked IAS, IPS and IFS officers to intimate it, in case the total transactions in stock, share or other investments exceed their six months' basic pay during a calendar year, according to the latest order by the personnel ministry.

This intimation is in addition to similar information that needs to be shared by them under Rule 16 (4) of AIS or All India Services (Conduct) Rules, 1968.

These rules are applicable to the members of three All India Services - Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS). '...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,' said the order issued to secretaries of all central government ministries.

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 the occasional investment made through stock-brokers or other persons duly authorized on the license under the relevant law'.

The rule further explains that frequent purchase or sale or both of shares, securities or other investments is deemed to be speculation under the sub-rule.