IBA Circular – Dearness Relief payable to Pensioners for the period February 2019 to July 2019
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
February 1, 2019
Designated Officers of all Member Banks which are parties to the Bipartite Settlement on Pension
Dearness Relief payable to Pensioners for the period February 2019 to July 2019
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2017 are as follows:-
October 2018 – 6893.42
November 2018 – 6893.42
December 2018 – 6870.60
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 February 2019 to July 2019 as per Annexure.
S K Kakka
Senior advisor (HR&IR)