Dearness Relief Aug 2023-Jan 2024 for Pre 1.1.1986 Retirees and Spouses

August 2023-Jan 2024 Dearness Relief for Pre 1.1.1986 Retirees & Spouses (b)

The Dearness Relief for the period of August 2023 to January 2024 has been announced to provide financial support and recognition to two specific groups of beneficiaries. Firstly, it applies to the surviving Pre-1.1.1986 retirees of banks, acknowledging their years of dedicated service and commitment. These retirees, who have dedicated their lives to their work, are now being recognized and supported through this relief. Secondly, the relief also extends to the surviving spouses of Pre-1.1.1986 retirees who are also receiving Ex-gratia. This additional support ensures the well-being and financial stability of these individuals during this specified time frame. By providing this relief, the authorities are acknowledging the invaluable contributions made by these individuals and are committed to their continued well-being and security.

Dearness Relief for August 2023 to January 2024 to surviving Pre-1.1.1986 retirees of banks (b) surviving spouses of Pre-1.1.86 Retirees who are in receipt of Ex-gratia

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2023-24/
August 2, 2023

Designated Officers of all Nationalised Banks and State Bank of India

Dear Sir/Madam,

Dearness Relief payable for the period August 2023 to January 2024 to surviving pre 1.1.1986 retirees of banks (b) surviving spouses of pre 1.1.86 Retirees who are in receipt of Ex-gratia

As per the directive contained in the Government of India, Ministry of Finance Department of Economic Affairs (Banking Division) letter F.No.11/2/2012-IR dated 17.12.2013, the Dearness Relief payable to surviving pre 1.1.1986 retirees of banks for the period August 2023 to January 2024 on Ex-gratia will be as under :

2. However, you may be guided by IBA circular HR&IR/MBR/743/2022-23/11722 dated February 7, 2023, wherein we have sent an advisory to Banks, to consider additional ex-gratia payment over and above the amount being paid as per DFS guidelines so as to ensure that the surviving pre 1986 retired employee / surviving Spouse of pre 1986 retired employees get a minimum of Rs.10000/- per month as Ex-gratia.

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HR&IR)

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