Dearness Relief payable to Pensioners for the period February 2014 to July 2014

Dearness Relief payable to Pensioners for the period February 2014 to July 2014

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2013/8784
February 1, 2014

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sirs,
Dearness Relief payable to Pensioners for the period February 2014 to July 2014

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2013 are as follows:-

October 2013 5501.04
November 2013 5546.69
December 2013 5455.39

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 dearness relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the dearness relief payable to pensioners for the period February 2014 to July 2014 as per Annexure.

Yours faithfully,

K UNNIKRISHNAN
DEPUTY CHIEF EXECUTIVE

Source: www.iba.org