RTI Decision Making

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

Investment of BIS funds

Procedure followed in decision making: 

Rule 41 of Bureau of Indian Standards Rules, 2018, 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:

• • The investment is made as per investment policy guidelines approved by Finance Advisory Committee/Executive Committee
• • A Fund Manager is appointed by BIS to provide portfolio fund management services to BIS on non-discretionary basis.
• • As and when surplus funds are available, Cash section seek the advice of the Fund Manager within the policy guidelines.
• • The Accounts Department after examination of the recommendations of the Fund Manager submits the proposal to Investment Cell which consists of Director (Finance) and Director (Accounts).
• • Investment Cell, submits its recommendations to Investment Committee.
• • The Investment Committee consists of DDGA, DDG (SSD-II) and DDG (Hallmarking, NITS, TNMD & Publication) as Member and DDGF as Chairman.
• • The Investment Committee gives its recommendations to DG:BIS. In case, the Investment Committee does not accept the advice of Fund Manager, it records the reasons for the same before giving its recommendations to DG:BIS. The Investment is approved by DG:BIS who has been delegated with the powers to approve the same.
• • Investment made is reported to Finance Advisory Committee/Executive Committee of the Bureau as and when their meetings are held.

Channel of Supervision and accountability:

Dealing Asstt. =>Section Officer (Cash) =>AD(A&F)/DD(A&F) => DAC => Investment Cell Consisting of DF & DAC=> Investment Committee => DG:BIS => Reporting to FC/EC

Last Updated on February 17, 2025