Bank Dearness Allowance @ 76.10% of pay for the months of May, Jun and Jul 2020
Indian Banks’ Association
HR & Industrial Relations
No.CIR/HR&IR/76/D/2020/01
May 1, 2020
All Members of the Association
(Designated Officers)
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2020 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 2020 are as follows:-
January 2020 – 7532.55
February 2020 – 7486.90
March 2020 – 7441.24
The average CPI of the above is 7486.90 and accordingly the number of DA slabs are 761 (7486 – 4440= 3046/4= 761 Slabs) The last quarterly Payment of DA was at 759 Slabs. Hence there is an increase in DA slabs of 2 i.e. 761 Slabs for payment of DA for the quarter May, June & July 2020
Also Read : Bank: Dearness Allowance @ 75.90% of pay for the months of Feb, Mar and Apr 2020
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 & July 2020 shall be 76.10 % of `pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Yours faithfully,
S.K Kakkar
Senior Advisor (HR & IR)
https://www.iba.org.in/circulars/dearness-allowance-for-workmen-and-officer-employees-in-banks-for-the-months-of-may-june-andamp-july-2020-under-x-bps-joint-note-dated-25-5-2015_939.html
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