IBA Order : Dearness Relief to Pensioners from August 2020 to January 2021

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IBA Order : Dearness Relief to Pensioners from August 2020 to January 2021

IBA Order : Dearness Relief to Pensioners from August 2020 to January 2021 Indian Banks’ Association HR & INDUSTRIAL RELATIONS No.CIR/HR&IR

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IBA Order : Dearness Relief to Pensioners from August 2020 to January 2021

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2020-21/9019

August 3, 2020

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period August 2020 to January 2021

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2020 are as follows:-

  • April 2020 – 7509.72
  • May 2020 – 7532.55
  • June 2020 – 7578.20

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period August 2020 to January 2021 as per Annexure.

Yours faithfully,

S. K Kakkar
Senior Advisor (HR&IR)

iba-order

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