If the department find out they can take action against you legally you need to inform and take permission from department before investment . The department can start a departmental enquiry and action if find out.

Hello

         A govt employee cannot indulge in any kind of a business. This is the law and it hasn't changed but people do all kinds of businesses but not in their name but in the name of their spouse or children you can do likewise because if your business expands and the income is taxable you would be in a very uncomfortable position.

Regards 

1. As per the information mentioned in tbepresent query, makes it clear that you want to enhance your savings/ income.
2. Let me tell you that though you have not going start a new Business all together, but only planning to invest, then also you are not allowed to do so even if you pay taxes on it.
3. Now, I would like to advice you that if you really want to go for the same then should go on the name of your close relative like father, mother, wife, brother etc.
4. And that is also when, if you have trust on them in terms of money.

Doing a business privately while being effectively employed in a PSU is against the employment rules or violation of employment offer conditions.

Your employer may initiate disciplinary action and likely to even terminate your services.

You may go through the employment rules and regulations before getting into such troubles.

you cannot carry on business during couerse of your employment 

2) disclipinary action can be taken against you by your employer 

3) mere payment of taxes would not absolve you from disciplinary proceedings 

Before doing anything I will advise you to the look your appointment letter that you cannot engage yourself in any type of Business and any other activity which is going to affect your working.

Instead of investing in your name you can use any others name of your family to go for this franchise business as disciplinary action may be taken against you as soon as it will be known to the office for the violation of service conditions and you maybe penalized for and any income generated from the franchise business in your name can be claimed by the office

What kind of franchise is this?

Does it require you to be actively involved in it? 

1) No your employer is nothing to do with your second source of income. If you are performing you primary duty very well and paying taxes of all income

Dear Client,

Restriction is imposed where public servant invests in stocks frequently. What is the business of this e-commerce franchise.

No it will not. Part time trading is not barred as per service rule