Dearness Allowance for May, June and July 2020 to Bank Employees

Dearness Allowance for May, June and July 2020 to Bank Employees

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2020 under X BPS/ Joint Note dated 25.5.2015

Indian Bank’s Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2020/01
May 1, 2020

All Members of the Association
(Designated Officers)

Dear Sir/ Madam,

Dearness Allowance for Workmen and Officer Employees in Banks for the months of May, June & July 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 March 2020 are as follows:-

January 2020 – 7532.55
February2020 – 7486.90
March 2020 – 7441.24

The average CPI of the above is 7486.90 and accordingly the number of DA slabs are 761 (7486 – 4440= 3046/4= 761 Slabs) The last quarterly Payment of DA was at 759 Slabs. Hence there is an increase in DA slabs of 2 i.e. 761 Slabs for payment of DA for the quarter May, June & July 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 May, June & July 2020 shall be 76.10% of `pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

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