Dearness Allowance @ 41.72% for Workmen and Officer Employees in Banks for the Months of May, June and July, 2023
The Indian Banks’ Association has issued a notification to all its members regarding the Dearness Allowance (DA) for Workmen and Officer employees in banks for the months of May, June, and July 2023. The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended March 2023 have been provided. The number of DA slabs for this period is 596, which is an increase of 8 slabs from the last quarterly payment. The rate of DA payable for this period shall be 41.72% of ‘pay’.
Indian Banks’ Association
HR & Industrial Relations
HR&IR/MBR/76/D/2023-24/0067
April 29, 2023
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 and July, 2023_ under XI BPS/ 8th Joint Note dated 11.11.2020
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended March 2023 are as follows:-
| January | 2023 | 8730.09 |
|---|---|---|
| February | 2023 | 8723.51 |
| March | 2023 | 8762.95 |
The average CPI of the above is 8738 and accordingly the number of DA slabs are 596 (8738-6352=2386/4=596 Slabs). The last quarterly Payment of DA was at 588 Slabs. Hence, there is an increase in DA slabs of ‘8’ i.e. 596 Slabs for payment of DA for the months May, June and July, 2023.
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of May, June and July, 2023 shall be 41.72 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Yours faithfully,
Sd/-
Brajeshwar Sharma
Senior Advisor (HR&IR)
