Central Government Employees News, 7th Pay Commission, MACP, LTC, CGHS, Railways, Bank News, CPSE, NPS, Pension, DOPT and More

Bank Employees DA to increase to 42.60% for February 2016 to April 2016

Bank Employees DA will be 42.60% for the month from February 2016 to April 2016 – DA for Bank Employees is paid presently at 39.80% – Net Dearness Allowance is 2.8%

Dearness Allowance for Bank Employees to increase from February 2016

DA for Bank Employees is to be revised every three months as per Bank Employees Wage Agreement

Indian Banks’ Association

HR & Industrial Relations

No. CIR/HR&IR176/D/2015-16/2008

January 30, 2016

All Members of the Association

(Designated Officers)

Dear Sirs,

under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended December 2015 are as follows:-

October2015 6140.17
November 2015 6162.99
December 2015 6140.17

The average CPI of the above is 6147. Consequently, Dearness Allowance payable to employees is for 426 slabs for the period February, March & April 2016 i.e. an increase of 28 slabs over the current level.

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 2016 shall be 42.60% 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 allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Note : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010 is @ [124.05% (6147-2836)=3311/4] i.e. 827 slabs @0.15% per slab).

Dearness Allowance for Bank Employees from February 2016 to April 2016 – IBA Order

Comments
Loading...
;

Add A Knowledge Base Question !

You will get a notification email when Knowledgebase answerd/updated!

+ = Verify Human or Spambot ?

close

Got a question?

Just post it on GC Assist and let the members of GConnect Community help you find the answer.