Dearness Allowance for Bank Employees is increased to 96.5% from November 2014

Dearness Allowance for Bank Employees

Dearness Allowance for Bank Employees is  increased to 96.5% from November 2014 as per order dated 01.11.2013 of Indian Banks Association. Full text of the same is as follows

Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2013 & January 2014 under IX BPS/Joint Note dt. 27.4.10

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended September 2013 are as follows:-

Consequently, dearness allowance to employees is payable for 641 slabs for the period November, December 2013 & January 2014 i.e. an increase of 48 slabs over the current level.

In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of November, December 2013 & January 2014 shall be 96.15% of ‘pay’. While arriving at dearness allowancepayable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowances to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.