As per the circular issued by the Indian Bank’s Association on 3 November 2020, the Dearness Allowance has revised to Officers and Employees for the months of November, December 2020 & January 2021 under 10th Bipartite Settlement and Joint Note dated 25.5.2015.
Indian Banks’ Association
HR & Industrial Relations
November 3, 2020
All Members of the Association
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2020 & January 2021 under X BPS/ Joint Note dated 25.5.2015
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended September 2020 are as follows:-
July 2020 – 7669.5
August 2020 – 7715.15
September 2020 – 7757.15 (Base 2016=100)
The average CPI of the above is 7713.93 and accordingly the number of DA slabs are 818 (7713 – 4440= 3273/4= 818 Slabs) The last quarterly Payment of DA was at 775 Slabs. Hence, there is an increase in DA slabs of 43 i.e. 818 Slabs for payment of DA for the quarter November, December 2020 & January 2021.
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 November, December 2020 & January 2021 shall be 81.80 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
S K KakKar
Senior Advisor (HR&IR)