Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/201341/3
February 1, 2014
February 1, 2014
Designated Officers of all Nationalised Banks
and Associate Banks of State Bank of India
and Associate Banks of State Bank of India
Dear Sirs,
Dearness Relief payable for the period February, 2014 to July 2014 to (a) surviving pre 1.1.1986 retirees of banks. (b) surviving spouses of pre 1.1.1986 retirees who are in receipt of Ex-gratia
As per the directive contained in the Government of India, Ministry of Finance -Department of Financial Services (Banking Division) letter F.No.11/2/2012-IR dated 17.12.13, the Dearness Relief payable to surviving pre 1.1.1986 retirees/surviving spouses of pre 1.1.86 retirees of banks for the period February to July 2014 will be as under :
| Applicable CPI Average | Amount of Ex-gratia per month | Rate of Dearness Relief | Amount of Dearness Relief per month | Total Ex-gratia amount including Dearness Relief per month | |
| Rs. | % | Rs. | Rs. | ||
| 5501 | Pre 1.1.86 retirees |
350 | 820.75 | 2873 | 3223 |
| Surviving spouses of pre 1.1.86 retirees | 175 | 820.75 | 1436 | 1611 |
Yours faithfully,
K UNNIKRISHNAN
DEPUTY CHIEF EXECUTIVE
Encl.
F.No.11/2/2012-IR
Government of India
Ministry of Finance
(Department of Financial Services)
Jeevan Deep Building,
Parliament Street,
New Delhi, the 17th December, 2013
To
Shri K. Unnikrishnan,
.Deputy Chief Executive Indian Banks Association, MUMBAI
Subject-Enhancement in the ex-gratia amount being paid to the pre-1986 retirees/surviving spouses
Sir,
1 am directed to refer to 1BA’s letter No.HR&IR/KSC/85/8026 dated 01.10.2013 on the subject cited above and to convey approval to the proposal of IBA for enhancement of the ex-gratia amount paid to pre-1986 retirees/surviving spouses of the deceased bank retirees as under :
| Surviving pre 1.1.1986 retirees | @Rs.350/- p.m. plus D.R. thereon |
| Surviving Spouses of pre 1.1.1986 retirees | @Rs.1751- plus D.R. thereon |
2. This issues with the approval of Secretary (Financial Services).
Yours faithfully.
sd/-
(Manish Kumar)
Under Secretary to the Government of India
Source: www.iba.org
[http://www.iba.org.in/Documents/scan0002_03_02_14.pdf]
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