DA for Bank Employees : IBA issued orders for next quarter from Feb to Apr 2017

DA for Bank Employees : IBA issued orders for next quarter from Feb to Apr 2017

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2015-16/1572

February 1, 2017

All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March and April 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 December 2016 are as follows:-

October 2016 – 6345.60
November 2016 – 6322.77
December 2016 – 6277.12

The average CPI of the above is 6315 and accordingly the number of DA slabs are 469(6315-4440=1875/4=469 Slabs). The last quarterly Payment of DA was at 478 Slabs. Hence there is a decrease in DA slabs of 9, i.e.,469 Slabs for payment of DA for the quarter February, March and April 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 February, March and April 2017 shall be 46.90 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,
sd/-
K.S.Chauhan
Senior Vice President

Click to view the order

Authority : www.iba.org.in