As per the 10th Bipartite Settlement, 75.90 percent of Dearness Allowance (DA) granting to Bank employees for the period from February, March and April 2020. The Indian Banks Association (IBA) issued circular in this regard and the same is reproduced and given below for your information.
Indian Banks’ Association
HR & Industrial Relations
February 1, 2020
All Members of the Association (Designated Officers)
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 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 December 2019 are as follows:-
- October 2019 – 7418.42
- November 2019 – 7486.90
- December 2019 – 7532.55
The average CPI of the above is 7479.29 and accordingly the number of DA slabs are 759 (7479 – 4440 = 3039 / 4 = 759 Slabs) The last quarterly Payment of DA was at 717 Slabs. Hence there is an increase in DA slabs of 42 i.e 759 Slabs for payment of DA for the quarter February, March and April 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 February, March & April 2020 shall be 75.90% of pay. While arriving at dearness allowance payable, decimals from third place may please be ignored.
S K Kakkar
Senior Advisor (HR&IR)
Source: 7th Pay Commission
Click to read article at Source DA for Bank Employees from February 2020