Dearness Relief payable to Pensioners for the period August 2023 to January 2024

Dearness Relief payable to Pensioners for the period August 2023 to January 2024: IBA

Indian Banks’ Association
HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2023-24/
August 2, 2023

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sir/ Madam,

Dearness Relief payable to Pensioners for the period August 2023 to January 2024

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

April 2023 8822.12
May 2023 8854.99
June 2023 8966.74

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 2023 to January 2024 as per Annexure.

Yours faithfully,

Brajesh Sharma
Senior Advisor (HR&IR)

Source: IBA