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

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- 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.

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