IBA DA Order for Bank Employees from August 2018
Indian Banks’ Association
HR & Industrial Relations
August 1, 2018
All Members of the Association
Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2018 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 June 2018 are as follows:-
April 2018 – 6573.86
May 2018 – 6596.69
June 2018 – 6642.34
The average CPI of the above is 6604.29 and accordingly the number of DA slabs is 541 (6604.29-4440 = 2164.29/4= 541 slabs). In the last Quarter, payment of DA was at 529 slabs. Hence, there is an increase in DA slabs of 12, i.e. 541 slabs for payment of DA for the quarter August, September & October 2018.
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 August, September & October 2018 shall be 54.10 % of ‘pay’, While arriving at dearness allowance payable, decimals from third place may please be ignored.
S Kakkar Senior Advisor