Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2020 under X BPS/ Joint Note dated 25.5.2015 – IBA Circular
Indian Banks’ Association
HR & Industrial Relations
May 1, 2020
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2020 under X BPS/ Joint Note dated 25.5.2015
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=140) for the quarter ended March 2020 are as follows:-
- January 2020 – 7532.55
- February 2020 – 7486.90
- March 2020 – 7441.24
The average CPI of the above is 7486.90 and accordingly the number of DA slabs are 761 (7486-4440= 3046/4= 761 Slabs). The last quarterly Payment of DA was at 759 Slabs. Hence there is an increase in DA slabs of 2 i.e 761 Slabs for payment of DA for the quarter May, June & July 2020.
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 May, June & July, 2020 shall be 76.10% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Senior Advisor (HR&IR)