Dearness Allowance for Bank Employees for the months of February, March and April 2016

Dearness Allowance payable to workmen and officer employees for the months of February, March & April 2016 shall be 42.60% of ‘pay’

Indian Banks’ Association
HR & Industrial Relations
No. CIR/HR&IR176/D/2015-16/2008

January 30, 2016

All Members of the Association
(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2016 under 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 December 2015 are as follows:-

The average CPI of the above is 6147. Consequently, Dearness Allowance payable to employees is for 426 slabs for the period February, March & April 2016 i.e. an increase of 28 slabs over the current level.

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 February, March & April 2016 shall be 42.60% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully

K S Chauhan
Senior Vice President

Note : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010 is @ [124.05% (6147-2836)=3311/4] i.e. 827 slabs @0.15% per slab).