Bank Dearness Allowance for November 2024 to January 2025
IBA has issued Circular dated 7.11.2024 to declare the rate of DA to Bank Employees under XII BPS/ 9th Joint Note dated 08.03.2024 for the quarter of November 2024 to January 2025
The rate of Dearness Allowance payable to Workmen and Officer employees for the months of November 2024, December 2024 & January 2025 shall be 19.83% of pay
19.83% DA to Bank Employees under XII BPS/ 9th Joint Note dated 08.03.2024
Indian Banks’ Association
HR & Industrial Relations
No.CIR/HR&IR/76/D/2024-25/1550
November 7, 2024
All Members of the Association
(Designated Officers)
Table of Contents
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of November 2024, December 2024 and January 2025 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 September 2024 are as follows:-
- July 2024 – 142.7
- August 2024 – 142.6
- September 2024 – 143.3
The average CPI of the above is 142.86 and accordingly the number of points over 123.03 are 19.83 (142.86 – 123.03) The last average quarterly CPI was 140.23. Hence, there is an increase of 2.63 points for November 2024, December 2024 & January 2025.
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 November 2024, December 2024 & January 2025 shall be 19.83% 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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