DA to Bank Employees from Feb 2019

DA to Bank Employees from Feb 2019

Dearness Allowance to Bank Employees from Feb 2019 – IBA Circulars

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2018-19/6764

February 1, 2019

All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2019 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 December 2018 are as follows:-

October 2018 – 6893.42
November 2018 – 6893.42
December 2018 – 6870.60

The average CPI of the above is 6885 and accordingly the number of DA slabs are 611 (6885-4440= 2445/4= 611 Slabs) The last quarterly Payment of DA was at 607 Slabs. Hence there is a increase in DA slabs of 4, i.e 611 Slabs for payment of DA for the quarter February, March & April 2019

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 February, March & April 2019 shall be 61.10 % 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)

Source: IBA