Bank DA for Feb-Apr 2024 – No Rate & Slab Change for Employees
The Bank Dearness Allowance for February, March, and April 2024 will not undergo any changes in terms of rate and slab for both workman and officer employees. Consequently, there will be no adjustments or increases in the allowance during this period for employees across various levels in the banking industry. The rate of Dearness Allowance to be paid to workmen and officer employees for the months of February, March, and April 2024 will remain at 48.51% of their basic pay.
Bank Dearness Allowance for Feb, Mar, & Apr 2024 -No change in Rate & Slab for Workman and Officer Employees
Indian Banks’ Association
HR & Industrial Relations
No.CIR/HR&IR/76/D/2023-24/0800
February 1, 2024
All Members of the Association
(Designated Officers)
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2024 under XI BPS/ 8™4 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 December 2023 are as follows:-
October 2023 – 9098.22
November 2023 – 9144.24
December 2023 – 9124.52
The average CPI of the above is 9122.33 and accordingly, the number of DA slabs are 693 (9122.33 – 6352= 2770.33 /4 = 693 Slabs) The last quarterly Payment of DA was at 693 Slabs. Hence, there is no change in DA slabs and rate for the quarter February, March & April 2024. 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 February, March & April 2024. shall be 48.51 % of ‘pay’. While arriving at dearness allowance payable, decimals beyond third place may please be ignored.
Yours faithfully,
Brajeshwar Sharma
Advisor (HR&IR)
Click To View the Order in PDF
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