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Not giving more freedom to staff for investment in stocks: Govt

The services rules bar government servants from making or permitting any member of his family or any person acting on his behalf to make any investment, which may embarrass or influence him in discharging his official duties.

Reported by: PTI, New Delhi [ Updated: December 28, 2017 17:47 IST ]
File pic - Minister of State for Personnel Jitendra Singh
File pic - Minister of State for Personnel Jitendra Singh

There is no proposal under consideration to give more freedom to central government employees to invest in the stock market, Minister of State for Personnel Jitendra Singh said today. 

Existing rules bar government servants from speculating (frequent purchase, sale or both) in the stock market or other investments. 

"At present, there is no proposal under consideration of the government for giving greater freedom to central government employees to invest in stock market/financial market instruments," he said in a written reply to a question in the Rajya Sabha. 

The services rules bar government servants from making or permitting any member of his family or any person acting on his behalf to make any investment, which may embarrass or influence him in discharging his official duties. 

"No government servant, who is involved in the decision making process of fixation of an Initial Public Offering or Follow-up Public Offering of shares of a central public sector enterprise shall apply, either himself or through any member of his family or through any other person acting on his behalf, for allotment of shares in the IPOs or FPOs of such central public sector enterprises," the rule said.

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