Bank Employees DA for the months of November, December 2016 & January 2017

Bank Employees DA for the months of November, December 2016 & January 2017

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2016-17/1338
November 1, 2016

All Members of the Association
(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2016 & January 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 September 2016 are as follows:-

July 2016 – 6391.25
Aug 2016 – 6345.60
Sep 2016 – 6322.77

The average CPI of the above is 6353 and accordingly the number of DA slabs are 478(6353-4440 1913/4 478 Slabs) The last quarterly Payment of DA was at 455 Slabs. Hence there is an increase in DA slabs of 23, i.e 478 Slabs for payment of DA for the quarter Nov, Dec 2016 and January 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 Nov, Dec 2016 & January 2017 shall be 47.80 % 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,

K.S.Chauhan
Senior Vice President

Source: http://www.iba.org.in