Dearness Relief increased to Bank Pensioners from August 2013

Dearness Relief increased to Bank Pensioners for the period from August 2013 to January 2014

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR176/D/G2/2013-2014/7589

August 1, 2013

Designated Officers of all Member Banks

which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period August 2013 to January 2014

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2013 are as follows:-

April 2013   5158.65

May 2013     5204.31

June 2013     5272.78

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 dearness relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the dearness relief payable to pensioners for the period August 2013 to January 2014 as per Annexure.

Yours faithfully,

sd/-

K UNNIKRISHNAN

DY. CHIEF EXECUTIVE

Download Circular No.CIR/HR&IR176/D/G2/2013-2014/7589 dated 01.08.2013 along with Annexure containing percentage of DA increase issued by IBA for increase in Dearness Relief for Bank Pensioners from August to January 2014

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