Dearness Allowance (DA) for Workmen and Officer Employees in banks for the months of February, March & April 2016 under X BPS/ Joint Note dated 25.5.2015-IBA
Indian Banks’ Association
HR & Industrial Relations
January 30, 2016
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2016 under X BPS/ Joint Note dated 25.5.2015
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (BaseI960=100) for the quarter ended December 2015 are as follows:-
The average CPI of the above is 6147. Consequently, Dearness Allowance payable to employees is for 426 slabs for the period February, March & April 2016 i.e an increase of 28 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 February, March & April 2016 shall be 42.60% 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