Dearness Relief payable to Pensioners for the period February 2015 to July 2015

Dearness Relief payable to Pensioners for the period February 2015 to July 2015

Indian Banks’ Association
HR & INDUSTRIAL RELATIONS

No,CIR/HR&IR/D/G2/2014-15/1280

31st January, 2015

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period February 2015 to July 2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2015 are as follows:-

Oct 2014    –          5774.95
Nov 2014   –          5774.95
Dec 2014    –         5774.95

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 2015 to July 2015 as per Annexure.

Yours faithfully,

K S Chauhan
Senior Vice President

Source file-http://www.iba.org.in/Documents/Cir_12800001.pdf