• Breaking News

    Sunday, 1 November 2015

    DEARNESS ALLOWANCE FOR BANK EMPLOYEES FOR THE MONTH NOVEMBER, DECEMBER & JANUARY 2016 SHALL BE 39.80%.

    Indian Banks' Association 

    HR & Industrial Relations

    No.CIR/HR&IR/76/D/2015-16/1572

    October 31, 2015

    All Members of the Association
    (Designated Officers)

    Dear Sirs,

    Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2015 & January 2016 under X BPS/ Joint Note dated 25.5.2015 

    The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=--100) for the quarter ended September 2015 are as follows:- 

    July 2015                 -     6003.21
    August 2015            -     6026.04 
    September 2015      -     6071.69 

    The average CPI of the above is 6033. Consequently, Dearness Allowance payable to employees is for 398 slabs for the period November, December 2015 and January 2016 i.e. an increase of 34 slabs over the current level. 

    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 November, December 2015 and January 2016 shall be 39.80% 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. 

    Yours faithfully,

    K S Cauhan
    Senior Vice President

    Source:- IBA

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