As we all know that Dearness allowance is dependent on the All India Consumer Price Index for Industrial Worker AICPIN-IW. These data are released on every month end and taking average of past quarter the Dearness Allowance and Dearness relief are determined for Serving bank employees and respective pensioners. As we all know that latest data of AICPIN-IW for the month of Sep 2017 are released recently. Now following letter subjecting Dearness Allowance for Workmen and Officer Employees in banks for the months of November, 2017 2018 depict the forthcoming dearness allowance and Relief.
|INDIAN BANK ASSOCIATION|
HR & Industrial Relations
All Members Of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of November. 2017 2018 under X BPS/ Joint Note dated 25.5.2915
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Basel 960=100) for the quarter ended September 2017 are as follows:-
July 2017 : 6505.38
Aug 2017 : 6505.38
Sep 2017 : 6505.38
The average CPI of the above is 6505 and accordingly the number of DA slabs are 5 16(6505- 4440= 2065/4= 516 Slabs) The last quarterly Payment of DA was at 478 Slabs. Hence there is an increase in DA slabs of 38, i.e 516 Slabs for payment of DA for the quarter Nov, Dec 2017 and January 2018.
In terms of clause 7 of the IOU’ Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of Nov, Dec 2017 & January 2018 shall be 51.60 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.
S K Kakkar
This rate of Dearness allowance will be applicable for the Month of Oct,Nov 2017 and January 2018.
Source:- Indian Bank Association