Dearness Allowance for Bank Employees – IBA Circular issued on 3.8.2015

DA for Bank Employees – IBA Circular issued on 3.8.2015 for Aug, Sep & Oct 2015

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2015-16/1159

August 3, 2015

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2015 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 June 2015 are as follows:-

April, 2015  – 5843.43

May, 2015   – 5889.08

June, 2015  – 5957.56

The average CPI of the above is 5896. Consequently, Dearness Allowance payable to employees is for 364 slabs for the period August, September & October 2015 i.e. an increase of 27 slabs over the current level.

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 August, September & October 2015 shall be 36.40% 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/-

Senior Vice President

PS : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010, is @ 114.75% (5896-2836=3060/4 i.e 765 slab @ 0.15% per slab).

Authority : www.iba.org.in