Bank Employees are paid Dearness Allowance as compensation to inflationary trend in cost of living on the basis consumer price index for Industrial Workers with base year 1960=100. IBA has issued orders now for payment of DA for Bank Employees from February 2016
Dearness Allowance payable to Bank Staff and Officers for the months of November, December 2015 & January 2016 has been determined to be 39.80% based on consumer price index. Indian Banks’ Association has issued order to all member banks for revising DA for Bank Employees
“DA for Nov 2015 increase of 3.4% means increase of 34 Slabs. Now Total DA will be 39.80 %” the Vice President of NOBW Mr.Ashwani Rana said.