DA for Bank Employees from August 2022 – IBA DA Circular on 1.8.2022

Dearness Allowance for Bank Employees for the months of August, September, and October 2022 shall be 36.82%

The Indian Banks Association (IBA) issued orders on 1st August 2022 regarding the Dearness Allowance for Bank Employees and Officers from August 2022 under XI BPS/Joint Note dated 11.11.2020. The rate of Dearness Allowance payable to Workmen and Officer employees for the months of August, September, and October 2022 shall be 36.82% of ‘pay’. The full text of the order is reproduced and given them below for your ready reference.

Indian Banks’ Association

HR & Industrial Relations

HR&IR/MBR/76/D/2022-23/1 1414

August 1, 2022

All Members of the Association
(Designated Officers)

Dear Sir/ Madam.

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2022 under XI BPS/ 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 June 2022 are as follows:-

April 2022 – 8394.82
May 2022 – 8480.28
June 2022 – 8493.43

The average CPI of the above is 8456.17 and accordingly, the number of DA slabs are 526 (8456 – 6352= 2104/4 = 526 Slabs). The last quarterly Payment of DA was at 472 Slabs. Hence, there is an increase in DA slabs of ’54’ 1.e. 526 Slabs for payment of DA for the quarter of August, September, and October 2022.

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 August, September, and October 2022 shall be 36.82% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,
sd/-
Brajeshwar Sharma
Senior Advisor (HR&IR)

Click to view the order in PDF

Bank DA Chart August 2022