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Friday, 4 August 2017

BANK DEARNESS ALLOWANCE @ 47.80% TO WORKMEN AND OFFICER EMPLOYEES IN BANKS FOR THE MONTHS OF AUGUST, SEPTEMBER AND OCTOBER 2017 UNDER 10TH BPS

Bank Dearness Allowance @ 47.80% to Workmen and Officer Employees in Banks for the Months of August, September and October 2017 under 10th BPS

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

Indian Banks' Association 

HR & Industrial Relations

No.CIR/HR&IR/76/D/2017-18/3312
August 1, 2017 

All Members of the Association
(Designated Officers)

Dear Sirs,

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. 

Yours faithfully,

Sd/-
S K Kakkar

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