Bank Employees DA for November, Dec 2018 & January 2019 @ 60.7 % of ‘pay’ – IBA Circular

Bank Employees DA for November, Dec 2018 & January 2019 @ 60.7 % of ‘pay’ – IBA Circular 

Indian Banks’ Association 

HR & Industrial Relations 

No.CIR/HR&IR/76/D/2018-19/6194 

November 1, 2018 

All Members of the Association 

(Designated Officers) 

Dear Sirs, 

Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2018 & January 2019 under X BPS/ Joint Note dated 25.5.2015 

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The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended September 2018 are as follows:- 

• July 2018 – 6870.60 
• Aug 2018 – 6870.60 
• Sep 2018 – 6870.60 

The average CPI of the above is 6871 and accordingly the number of DA slabs are 607 (6871-4440= 2431/4= 607 Slabs) The last quarterly Payment of DA was at 541 Slabs. Hence there is an increase in DA slabs of 66, i.e 607 Slabs for payment of DA for the quarter Nov, Dec 2018 and January 2019 

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 Nov, Dec 2018 & January 2019 shall be 60.7 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored. 

Yours faithfully, 

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S K.Kakkar 

Senior Advisor (HR&IR) 

Source:Click here to view/download the PDF
[http://www.iba.org.in/documents/scan011118.pdf]