Bank Employees will get up to 68 percent DA between August to October, 2019
Dearness Allowance (DA) for August-October 2019: Bank officials will get up to 68.10 per cent DA between August to October, 2019. This can be concluded from the CPI data announced by the Labour Bureau for April 2019-June 2019. In the previous quarter, the DA provided to bank officials was 64.5 per cent.
For bank employees getting a basic pay of Rs 23700 and special pay of Rs 1837, the DA (at 68.10%) would be Rs 17,390.70. Similarly, for bank employees getting a basic pay of Rs 30,560 and special pay of Rs 2368, the DA (at 68.10%) would be Rs 22,423.97.
The basic pay of bank officers in Scale 1 to VII range from Rs 23,700 to Rs 85,000. The highest basic pay is for OS-VII-O5. The DA these officers will receive between August to October this year will be Rs 64,252.35, around Rs 3396.6 more than what they had received in the previous quarter.
Dearness Allowance is the cost of living adjustment allowance paid to Government employees, Public sector employees (PSE) and pensioners in India. The government routinely revises DA provided to employees to help them tackle inflation.
According to the Ministry of Labour & Employment, the all-India CPI-IW for April 2019 increased by 3 points and pegged at 312 (three hundred and twelve). On 1-month percentage change, it increased by (+) 0.97 per cent between March, 2019 and April, 2019 when compared with the increase of (+) 0.35 per cent between the corresponding months of the previous year.
The year-on-year inflation based on CPI-IW stood at 8.33 per cent for April, 2019 as compared to 7.67 per cent for the previous month and 3.97 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at (+) 4.92 per cent against (+) 3.96 per cent of the previous month and (+) 1.33 per cent during the corresponding month of the previous year.
(Data source – https://bankingschool.co.in/bank-staff/bank-officers-dearness-allowance-…)