Indian Banks' Association has issued Circular regarding Increase in DA for Bank Employees and officers from February 2017
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 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 December 2016 are as follows:-
The average CPI of the above is 6315 and accordingly the number of DA slabs are 469(6315-4440= 1875/4= 469 Slabs) The last quarterly Payment of DA was at 478 Slabs. Hence there is a decrease in DA slabs of 9, i.e 469 Slabs for payment of DA for the quarter February, March & April 2017.
In terms of clause 7 of the 101h 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 February, March & April 2017 shall be 46.90 % 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.
K S Chauhan
Senior Vice President