• Breaking News

    Wednesday, 3 May 2017

    DEARNESS ALLOWANCE FOR MAY, JUNE AND JULY 2017 FOR WORKMEN AND OFFICER EMPLOYEES IN BANKS

    Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 2017 under X BPS/ Joint Note dated 25.5.2015

    Indian Banks' Association 

    HR & Industrial Relations

    No.CIR/HR&IR/761D/2017-18/2625

    April 29, 2017 

    All Members of the Association
    (Designated Officers)

    Dear Sirs,

    Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 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 March 2017 are as follows:-

    January 2017 6254.30
    February 2017 6254.30
    March 2017 6277.12 

    The average CPI of the above is 6261.91 and accordingly the number of DA slabs is 456 (6261.91-4440 = 1821.91/4= 456 slabs). The last quarterly payment of DA was at 469 slabs. Hence, there is a decrease in DA slabs of 13, i.e. 456 slabs for payment of DA for the quarter May, June and July 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 May, June and July 2017 shall be 45.60 % of 'pay'. While arriving at dearness allowance payable, decimals from third place may please be ignored.

    Sd/-
    Chauhan Senior

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