Dearness Relief payable to Pensioners for the period February to July, 2016 – IBA
Indian Banks’ Association
HR & INDUSTRIAL RELA TIONS
January 30, 2016
Designated Officers of all Member Banks
Which are parties to the Bipartite Settlement on Pension
Dearness Relief payable to Pensioners for the period February to July, 2016
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960= 100) for the quarter ended December, 2015 are as follows:-
In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations.
Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period February 2016 to July 2016 as per Annexure.
K S Chauhan
Senior Vice President