As per IBA Circular dated 7.11.2024, the rate of DA to Bank Staffs under XI BPS/8TH Joint Note is increased to 53.3%
Rate of DA to Bank Staffs from November 2024 to January 2025
Dearness Allowance payable to Workmen and Officer employees under XI BPS/8TH Joint Note dated 11.11.2020 for the months of November 2024, December 2024 & January 2025 shall be 53.13% of pay
Table of Contents
Indian Banks’ Association
HR & Industrial Relations
No.HR&IR/76/D/2024-25/1549
November 7, 2024
All Members of the Association
(Who are yet to implement 12th BPS/9th Joint note signed on 08.03.2024-Designated Officers)
Dear Sir/Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of November 2024, December 2024 and January 2025 under XI BPS/8th Joint Note dated 11.11.2020
The confirmed All India Average Consumer Price Index for Industrial Workers (Base 1960= 100) for the quarter ended September 2024 are as follows:-
- July 2024 – 9380.90
- August 2024 – 9374.32
- September 2024 – 9420.34
The average CPI of the above is 9391.85 and accordingly the number of DA slabs are 759 (9391.85-6352-3039.85/4 = 759 slabs). The last average quarterly CPI was 716. Hence, there is an increase in DA slabs of 43 i.e. 759 slabs for payment of DA for the months November 2024, December 2024 & January 2025.
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of November 2024, December 2024 & January 2025 shall be 53.13% of pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Yours faithfully,
Brajeshwar Sharma
Senior Advisor (HR&IR)
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