Bank Employees DA – Dearness Allowance for Bank Employees increased to 110.70 % with effect from May 2015
Indian Banks’ Association (IBA) has announced the DA for the Months of May, June and July 2015. The letter issued by the IBA is reproduced below
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
May 2, 2015
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2015 under IX BPS/Joint Note dt. 27.4.10
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Basel 960=100) for the quarter ended March 2015 are as follows:-
Jan 2015 5797.78 Feb 2015 5774.95 Mar 2015 5797.78
The average CPI of the above is 5790.17 Consequently, dearness allowance to employees is payable for 738 slabs for the period May, June & July 2015 i.e., an increase of 4 slabs over the current level.
In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of May, June & July 2015 shall be 110.70 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
We advise banks to pay the difference between the old and revised salary and allowances to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.
K S Chauhan
Senior Vice President