Bank Employees DA for the Month of August, September & October 2017
Indian Banks’ Association
HR & Industrial Relations
August 1, 2017
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2017 under X BPS/ Joint Note dated 25.5.2015
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960-100) for the quarter ended June 2017 are as follows:-
April 2017 – 6322.77
May 2017 – 6345.60
June 2017 – 6391.25
The average CPI of the above is 6353.21 and accordingly the number of DA slabs is 478 (6353.21-4440 = 1913.21/4= 478 slabs). The last quarterly payment of DA was at 456 slabs. Hence, there is a increase in DA slabs of 22, i.e. 478 slabs for payment of DA for the quarter August, September & October 2017.
In terms of clause 7 of the 10th 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 August, September & October 2017 shall be 47.80 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.