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Revised DA for Bank Employees from Nov 2020 to Jan 2021 – 819 Slabs – IBA Order

Indian Banks’ Association

HR & Industrial Relations

December 2, 2020

All Members of the Association
(Designated Officers)

Dear Sir/Madam,

Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December 2020 & January 2021 under X BPS/ Joint Note dated 25.5.2015 (Revised)

Please refer to our Cir HR&IR/76/D/2020/9282 dated November 3, 2020, wherein we had advised DA rates to be paid for the month of November, December 2020 & January 2021

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2. The Circular was issued by considering the Consumer. Price Index (CPI) of September 2020 which is 118 as published by Ministry of Labour & Employment, Chandigarh vide its notification no. 23/15/2020- FLS dated 22.10.2020.

3. However, they have now revised the CPI of September 2020 at 118.1 as published in its notification no. F.NO.5/1/2020- CPI dated 27.11.2020. Accordingly, please note the necessary changes as under:-

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended September 2020 are as follows:-

July 2020 – 7669.50
August 2020 – 7715.15
September 2020 – 7763.73 (Base 2016 = 100)

The average CPI of the above is 7716.13 and accordingly the number of DA slabs are 819 (7716 – 4440= 3276/4= 819 Slabs) The last quarterly Payment of DA was at 775 Slabs. Hence there is an increase in DA slabs of 44 i.e. 819 Slabs for payment of DA for the quarter November, December 2020 & January 2021.

Expected DA Calculator for Bank Employees from February 2021

5. 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 November, December 2020 & January 2021 shall be 81.90 % 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)

Signed Copy

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