Section 68 in Pension Fund Regulatory and Development Authority (Employees Service) Regulations, 2015
68. Lending and Borrowings.
- No employee shall in his individual capacity -(i)borrow or permit any member of his dependent family members to borrow or otherwise place himself or a member of his dependent family members under a pecuniary obligation to a broker or a money lender or a subordinate employee of the Authority or any person, association of persons, firm, company or institution, whether incorporated or not, having dealings with the Authority;(ii)incur debts at a race meeting;(iii)lend money in private capacity to a constituent of the Authority or have personal dealings with such constituent in the purchase or sale of bills of exchange, Government paper or any other securities; and(iv)guarantee in his private capacity the pecuniary obligations of another person or agree to indemnify in such capacity another person from loss except with the previous permission of the competent authority;Provided further that an employee may obtain a loan from a cooperative credit society of which he is a member or stand as surety in respect of a loan taken by another member from a cooperative credit society of which he is a member.
