IBA issued Dearness Allowance order for payment of 71.7% DA to BANK employees from November to January 2020.
Indian Banks’ Association
HR & Industrial Relations
November 1, 2019
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2019 & January 2020 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 September 2019are as follows:-
July 2019 7281.46
Aug 2019 7304.29
Sep 2019 7349.94
The average CPI of the above is 7311 and accordingly the number of DA slabs are 717(7311¬4440= 2871/4= 717 Slabs) The last quarterly Payment of DA was at 681 Slabs. Hence there is an increase in DA slabs of 36, i.e 717 Slabs for payment of DA for the quarter Nov. Dec 2019 and January 2020
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 2019 & January 2020 shall be 71.7 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.