IBA Dearness Relief Order to Bank Pensioners from August 2018
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
August 1, 2018
Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension
Dearness Relief payable to Pensioners for the period August 2018 to January 2019
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2018 are as follows:-
April 2018 – 6573.86
May 2018 – 6596.69
June 2018 – 6642.34
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.
Also Read : IBA DA Order for Bank Employees from August 2018
Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period August 2018 to January 2019 as per Annexure.
S K Kakkar
Senior Advisor (HR&IR)