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IBA issues Bank DA orders – Increase in DA for Bank Employees

IBA issues Bank DA orders – Increase in DA for Bank Employees for the Months of August, September and October 2014

IBA issues Bank DA orders – Consequent on release of All India Consumer Price Index for the month of June 2014 by the Government, Indian Banks’ Association has issued DA Order for bank employees on 01.08.2014 addressed to all member banks. As per this Order Dearness Allowance for the months of August, September and October 2014 has to be granted at the rate of 102.45% of Pay for increase of 33 slabs as a result increase in CPI up to 133.52 points. The net DA increase for Bank Employees for this Quarter is 4.95%

Click here for the method to calculate DA for Employees on the basis of Consumer Price Index

Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/76/D/2014-15/415
1st August, 2014
All Members of the Association
(Designated Officers)
Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of  August, September & October 2014 under IX BPS/Joint Note dt. 27.4.10

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended June 2014 are as follows:-

Apr 2014 5523.87
May 2014 5569.52
Jun 2014 5615.17
The average CPI of the above is 5569.52. The DA paid for the quarter ended July 2014 was at CPI 5436.00. Hence, there is an increase in CPI of 133.52 points, i.e., increase of 33 slabs over the current level.
Consequently, dearness allowance to employees is payable for 683 slabs for the period August, September & October 2014 i.e. an increase of 33 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 August, September & October 2014 shall be 102.45% 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.
Yours faithfully,
sd/-
K S Chauhan
Senior Vice President

Download Bank Employees DA Order dated 01.08.2014

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