DA for Bank Staff from May 2018 – IBA Circular

DA for Bank Staff from May 2018 – IBA Circular

HR & Industrial Relations

No.CIR/HR&IR/76/D/2018-19/4988

May 2, 2018

All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2018 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 2018 are as follows:-

January 2018 – 6573.86
February 2018 : 6551.03
March 2018 : 6551.03

The average CPI of the above is 6559 and accordingly the number of DA slabs are 529(6559-4440=2119/4= 529 Slabs). The last quarterly Payment of DA was at 527 Slabs. Hence there is an increase in DA slabs of 2, i.e 529 Slabs for payment of DA for the quarter May, Jun & July, 2018.

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 & July, 2018 shall be 52.90 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,
sd/-
K S Chauhan
Advisor(HR&IR)

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Authority: www.iba.org.in