Indian Banks Association – Dearness Relief payable to Pensioners for the period February to July, 2016

Dearness Relief payable to Pensioners for the period February to July, 2016

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No. CIRTHR&IR/D/G2/2015-16/2013
January 30, 2016

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period February to July, 2016

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2015 are as follows:-

Oct 2015       6140.17
Nov 2015     6162.99
Dec 2015     6140.17

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period February 2016 to July 2016 as per Annexure.

Yours faithfully,

K S Chauhan
Senior Vice President

Encl.

Continuation sheet

Indian Banks Association

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