Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
August 3, 2020
Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension
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.
S. K Kakkar
Senior Advisor (HR&IR)