Dearness Allowance for Bank Employees for November, December 2014 and January 2015

Dearness Allowance for Bank Employees for  November, December 2014 and January 2015

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/76/D/2014-15/850
1st November, 2014

All Members of the Association
(Designated Officers)

Dear Sirs.

Dearness Allowance for Workmen and Officer Employees ¡n banks for the months of November, December 2014 & January 2015 under IX BPS/Joint Note dt. 27.4.10

The confirmed All India Average Consumer Price Index Numbers for industrial Workers (Base 1960=100) for the quarter ended September 2014 are as follows:

The average CPI of the above is 5767. Consequently, dearness allowance to employees is payable for 732 slabs for the period November, December 2014 & January 2015 i.e., an increase of 49 slabs over the current level.

In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of November, December 2014 & January 2015 shall be 109.80% 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 allowances to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,
K.S.Chauhan
Senior Vice President

Source : www.iba.org.in

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