DA for Bank Employees from May, June and July 2017
Indian Banks’ Association
HR & Industrial Relations
April 29, 2017
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 2017 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 March 2017 are as follows:-
January 2017 – 6254.30
February 2017 – 6254.30
March 2017 – 6277.12
The average CPI of the above is 6261.91 and accordingly the number of DA slabs are 456(66261.91-4440=1821.91/4=456 slabs). The last quarterly Payment of DA was at 469 Slabs. Hence there is a decrease in DA slabs of 13, i.e., 456 Slabs for payment of DA for the quarter May, June and July 2017.
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 May, June and July 2017 shall be 45.60 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Senior Vice President