Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September and October 2024: IBA

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September and October 2024 under XII BPS/ 9TH Joint Note: IBA

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2024-25/1318
August 7, 2024

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 and October 2024 under XII BPS/ 9TH Joint Note dated 08.03.2024

The confirmed All India Average Consumer Price Index for Industrial Workers (Base 2016 =100) for the quarter ended June 2024 are as follows:-

April 2024 – 139.4
May 2024 – 139.9
June 2024 – 141.4

The average CPI of the above is 140.23 and accordingly the number of points over 123.03 are 17.20 (140.23 – 123.03) The last average quarterly CPI was 139. Hence, there is an increase of 1.23 points for August, September & October 2024.

In terms of clause 13 of the 12th Bipartite Settlement dated 08.03.2024 and clause 2 (i) of the Joint Note dated 08.03.2024, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of August, September & October 2024 shall be 17.20% of ‘pay’ (0.01% change in DA on ‘pay’ for change in every second decimal place of CPI 2016 over 123.03 points)

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HR&IR)

Source: IBA