IBA Orders on DA : Increase in DA Slabs of 34 – 64.50 % May to July 2019

IBA Orders on DA : Increase in DA Slabs of 34 – 64.50 % May to July 2019

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2019 under X BPS/ Joint Note dated 25.5.2015

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2019-20/7217

May 2, 2019

All Members of the Association
(Designated Officers)

Dear Sir/Madam,

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2019 under X BPS/Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=140} for the quarter ended March 2019 are as follows:-

January 2019 – 7007.55
February 2019 – 7007.55
March 2019 – 7053.20

The average CPI of the above is 7023 and accordingly the number of DA slabs are 645 (7023-4440= 2583/4= 645 Slabs) The last quarterly Payment of DA was at 611 Slabs. Hence there is an increase in DA slabs of 34, i.e 645 Slabs for payment of DA for the quarter May. June & July, 2019

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 May, June & July, 2019 shall be 64.50 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,
sd/-
S K Kakkar
Senior Advisor (HR&IR)