Bank Employees Dearness Allowance from February 2020 - DA 2020

Bank Employees Dearness Allowance from February 2020 - DA 2020

According to the 10th Bipartite Settlement for the period from February, March and April 2020, 75.90 percent of the Dearness Allowance (DA) grants to Bank employees. In this regard the Indian Banks Association (IBA) released a circular and the same is reproduced and provided for your information below :

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/ 76/D/2019-20/ 8619

February 1, 2020

All Members of the Association (Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2020 under X BPS / Joint Note dated 25.5.2015.

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960= 100) for the quarter ended December 2019 are as follows:-

• October 2019 - 7418.42
• November 2019 - 7486.90
• December 2019 - 7532.55

The average CPI of the above is 7479.29 and accordingly the number of DA slabs are 759 (7479 - 4440 = 3039 / 4 = 759 Slabs) The last quarterly Payment of DA was at 717 Slabs. Hence there is an increase in DA slabs of 42 i.e 759 Slabs for payment of DA for the quarter February, March and April 2020.

AICPIN for December 2019 – Press Release

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 February, March & April 2020 shall be 75.90% of pay. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours Faithfully,
sd/-
S K Kakkar
Senior Advisor (HR&IR)