Bank DA Update : Dearness Allowance for May to July 2024 to Bank Employees set at 15.97%

Bank DA Update : As per IBA report, Dearness Allowance for May to July 2024 to Bank Employees set at 15.97%

Bank DA Update for the Months of May, June and July 2024

Indian Banks’ Association

HR & Industrial Relations
No.CIR/HR&IR/76/D/2024-25/1152
June 10, 2024

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 and July 2024 under XII BPS/ 9th Joint Note dated 08.03.2024

The confirmed All India Average Consumer Price Index for Industrial Workers (Base 2016= 100) for the quarter ended March 2024 are as follows:-

January 2024 – 138.9
February 2024 – 139.2
March 2024 – 138.9

The average CPI of the above is 139 and accordingly the number of points over 123.03 are 15.97 (139- 123.03) The last average quarterly CPI was 138.76. Hence, there is an increase of 0.24 points for May, June & July 2024.

Dearness Allowance for May to July 2024 to Bank Employees set at 15.97%

In terms of clause 13 of the 12th Bipartite Settlement dated 08.03.2024 and clause 2 (i) of the Joint Note dated 08.03.2024, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of May, June & July 2024 shall be 15.97% ‘of ‘pay’ (0.01 % change in DA on ‘pay’ for change in every second decimal place of CPI 2016 over 123.03 points)

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HR&IR)

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