Dearness Allowance for Workmen and Officer Employees in banks for the months of February. March & April 2015

Dearness Allowance for Workmen and Officer Employees in banks for the months of February. March & April 2015

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/76/D/2014-15/1277

31st January, 2015

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 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 December 2014 are as follows:-

Oct 2014    - 5774.95

Nov 2014    - 5774.95

Dec 2014    - 5774.95

The average CPI of the above is 5774.95. Consequently, dearness allowance to employees is payable for 734 slabs for the period February. March & April 2015 i.e., an increase of 2 slabs over the current level.

In terms of clause 7 of the 9^th  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 February, March & April 2015 shall be 110.10% 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,

Sd/-

K.S.Chauhan

Senior Vice President

Source: http://www.iba.org.in/Documents/Cir_12770001.pdf