Good News! DA Hike For Bank Employees for August to October 2020

As per 10th Bipartite Settlement, the DA (Dearness Allowance) for band employees and Officers for the months of August, September & October 2020 is increased to 77.50%. The official order is reproduced and given below for your further reference.

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2020/9018
August 3, 2020

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 2020 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 2020 are as follows:-

• April 2020 – 7509.72
• May 2020 – 7532.55
• June 2020 – 7578.20

The average CPI of the above is 7540 and accordingly the number of DA slabs are 775 (7540 – 4440= 3100/4= 775 Slabs) The last quarterly Payment of DA was at 761 Slabs. Hence there is an increase in DA slabs of 14 i.e. 775 Slabs for payment of DA for the quarter August, September & October 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 August, September & October 2020 shall be 77.50 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,
sd/-
S K kakkar
Senior Advisor (HR&IR)

Click to view the IBA Circular

Click to view the IBA Circular