Center mandates IAS, IPS, IFS officers to disclose their shares, investments deals

-


- Details of transactions in shares or other investments worth more than six months basic salary during a calendar year are required to be furnished.

NEW DELHI: The central government has directed the IAS, IPS and IFS officers of the country to disclose the details of such transactions in case the total value of transactions in stocks, securities or other investments exceeds their six months' basic salary during a calendar year.

According to the relevant order issued by the Ministry of Personnel, the central government has asked all IAS, IPS and IFS officers to declare the full details of any deals worth more than six months of the total basic pay received by them during a calendar year. Along with this, this information will be required to be given under Rule 16(4) of AIS or All India Services (Conduct) Rules, 1968. These rules are applicable to the members of the three All India Services Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service (IFS). It has been decided to call for this relevant information with a view to enable the administrative authorities to monitor any dealings in shares or other investments etc. in respect of the members of All India Services (AIS). Orders have been issued to the secretaries of all central government ministries in this regard.

As per Rule 14(1) no member of AIS may speculate in any shares or other investments, but this provision does not apply to investments made through stockbrokers or approved persons licensed under relevant laws. As further clarified in this rule, repeated purchase or sale or both transactions in shares, securities or other investments are treated as speculation under the sub-rule. The Ministry in its order dated March 20 has further said that shares, securities, debentures etc. are treated as movable property as defined in Explanation-I under Rule 16 of the AIS Rules, 1968, if any personal transaction as defined in Rule 16(4) of the IBID Rules. Even if it is more than two months, it is necessary to inform the prescribed authority.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more