Dearness Allowance @ 36.82 % of ‘pay’ for Workmen and Officer Employees in banks for the months of Aug, Sept & Oct 2022: IBA

Dearness Allowance @ 36.82 % of ‘pay’ for Workmen and Officer Employees in banks for the months of August, September & October 2022 under XI BPS/ Joint Note dated 11.11.2020: IBA Order dated 01.08.2022

Indian Banks’ Association

HR & Industrial Relations

HR&IR/MBR/76/D/2022-23/1 1414

August 1, 2022

All Members of the Association
(Designated Officers)

Dear Sir/ Madam.

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2022 under XI BPS/ 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 June 2022 are as follows:-

April 2022 – 8394.82
May 2022 – 8480.28
June 2022 – 8493.43

The average CPI of the above is 8456.17 and accordingly the number of DA slabs are 526 (8456 — 6352= 2104/4 = 526 Slabs). The last quarterly Payment of DA was at 472 Slabs. Hence, there is an increase in DA slabs of ’54’ 1.e. 526 Slabs for payment of DA for the quarter August, September and October 2022

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 August, September and October 2022 shall be 36.82% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HR&IR)

Source: IBA