Dearness Allowance for Banks for the months of Nov 2022 to Jan 2023 under XI BPS/Joint Note dated 11.11.2020

Dearness Allowance for Banks for the months of Nov 2022 to Jan 2023 for Workmen and Officer Employees under XI BPS/Joint Note dated 11.11.2020

Indian Banks’ Association

HR & Industrial Relations
HR&IR/MBR/76/D/2022-23/11592
November 1, 2022

All Members of the Association
(Designated Officers)

Dear Sir/ Madam,

Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2022 and January 2023 under XI BPS/ Joint Note dated 11.11.2020

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended September 2022 as published by Govt. of India in its website Labour Bureau are as follows:-

July               2022        8539.44
August         2022         8559.16
September  2022         8631.48

The average CPI of the above is 8576.69 and accordingly the number of DA slabs are 556 (8576 – 6352= 2224/4 = 556 Slabs). The last quarterly Payment of DA was at 526 Slabs. Hence, there is an increase in DA slabs of ‘30’ i.e. 556 Slabs for payment of DA for the months November, December 2022 and January 2023.

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, December 2022 and January 2023 shall be 38.92 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

Brajeshwar Sharms
Senior Advisor (HR&IR)

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