Dearness Allowance For Workmen And Officer Employees In Banks

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2017 under X BPS/Joint Note dated 25.5.2015

Indian Banks’ Association

HR & Industrial Relations

No. CIR/HR&IR/76/D/2017-18/3312

August 1, 2017

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2017 under X BPS/Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2017 are as follows:-

April 2017            –              6322.77

May 2017             –              6345.60

June 2017            –              6391.25

The average CPI of the above is 6353.21 and accordingly the number of DA slabs is 478 (6353.21-4440 = 1913.21/4 = 478 slabs). The last quarterly payment of DA was at 456 slabs. Hence, there is a increase in DA slabs of 22, i.e. 478 slabs for payment of DA for the quarter August, September & October 2017.

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015, and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of August, September & October 2017 shall be 47.80% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

S K Kakkar

Senior Advisor

Authority: www.iba.org.in