DA from February to April 2018 for bank Employees under X BPS

DA from February to April 2018 for bank Employees under X BPS

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2018 under X BPS/Joint Note 25.5.2015

Indian Banks’ Association
HR & Industrial Relations

No.CIR/HR&1R/76/D/2017-18/4431

February 1, 2018

All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2018 under X BPS/Joint Note 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2017 are as follows:-

October 2017 – 6551.03
November 2017 – 6573.86
December 2017 – 6528.21

The average CPI of the above is 6551 and accordingly the number of DA slabs are 527(6551-4440=2111/4= 527 Slabs). The last quarterly Payment of DA was at 516 Slabs. Hence there is an increase in DA slabs of 11, i.e 527 Slabs for payment of DA for the quarter February, March & April 2018.

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 2018 shall be 52.70% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,
sd/-

S K Kakkar
Senior Advisor (HR&IR)

Authority: http://www.iba.org.in/