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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%
DA for Bank Employees is to be revised every three months as per Bank Employees Wage Agreement
Indian Banks’ Association
HR & Industrial Relations
January 30, 2016
All Members of the Association
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:-
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).