Indian Banks Association
HR & Industrial Relations
April 29, 2017
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 2017 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 March 2017 are as follows:
The average CPI of the above is 6261.91 and accordingly the number of DA slabs is 456 (6261.91-4440 = 1821.91/4= 456 slabs). The last quarterly payment of DA was at 469 slabs. Hence, there is a decrease in DA slabs of 13, i.e. 456 slabs for payment of DA for the quarter May, June and July 2017.
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 May, June and July 2017 shall be 45.60 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Senior Vice President