Bank Dearness Allowance for Workmen and Officer Employees for the months of February, March & April 2024 – No change in Rate & Slab

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2024 under XI BPS/ 8th Joint Note dated 11.11.2020 – No change in Rate & Slab: IBA Order dated 01.02.2024

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2023-24/0800

February 1, 2024

All Members of the Association
(Designated Officers)

Dear Sir/ Madam,

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2024 under XI BPS/ 8th Joint Note dated 11.11.2020

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2023 are as follows:-

October 2023 – 9098.22
November 2023 – 9144.24
December 2023 – 9124.52

The average CPI of the above is 9122.33 and accordingly the number of DA slabs are 693 (9122.33— 6352= 2770.33 /4= 693 Slabs) The last quarterly Payment of DA was at 693 Slabs. Hence, there is no change in DA slabs and rate for the quarter February, March & April 2024. In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of February, March & April 2024. shall be 48.51 % of ‘pay’. While arriving at dearness allowance payable, decimals beyond third place may please be ignored.

Yours faithfully,

Brajeshwar Sharma
Advisor (HR&IR)

Source: IBA