Procedure followed in Decision Making process including Channel of Supervision and Accountability

Investment of BIS funds

Procedure followed in decision making: 

Rule 17E of Bureau of Indian Standards Rules, 1987, provides that Moneys belonging to the BIS Fund may, with the approval of the Director-General or any other Officer authorized in this behalf, be invested in the form and modes as specified under sub section (5) of section 11 of the Income-tax Act, 1961(113 of 1961) for investment of income derived from Property held under trust wholly for charitable or religious purposes. Towards its achievement, the following procedure is being followed:

Channel of Supervision and accountability:

 

Dealing Asstt. => Section Officer (Cash) => DF => Investment Cell Consisting of DF & DAC => Investment Committee => DDGF => Reporting to FC/EC