Chhattisgarh government has permitted its employees to invest in shares, securities, debentures and mutual funds by amending its state rules. The government staff however are still prohibited from intraday trading, and several other speculative equity instruments.
The state's General Administration Department on June 30 issued a notification, announcing amendments to the Chhattisgarh Civil Services (Conduct) Rules, 1965. A new sub-section has been added in order to ensure financial transparency.
However, investment in Futures and Options (F&O) and cryptocurrency, as well as resorting to intraday trading or BTST (Buy Today, Sell Tomorrow) strategies are still prohibited for the state's employees. Additionally, frequent purchase and sale of shares, securities or other investments will also be treated as misconduct.
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Notably, central government employees are allowed to invest in shares and mutual funds, but are not allowed to take part in speculative or frequent trading.
Chhattisgarh government's move comes as more investors shift focus towards equity markets as a strategic investment route, rather than the traditional methods like fixed and recurring deposits. Indian benchmark indices have rallied significantly over the years, with Sensex and Nifty gaining around 140 percent in the past five years.
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(With inputs from PTI)
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