DA For Bank Employees From May 2020
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2020 under X BPS/ Joint Note dated 25.5.2015
Indian Banks’ Association
HR & Industrial Relations
No.CIR/HR&IR/76/D/2020/01 May 1, 2020
All Members of the Association
(Designated Officers)
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 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 March 2020 are as follows:-
| January 2020 | 7532.55 |
| February 2020 | 7486.90 |
| March 2020 | 7441.24 |
The average CPI of the above is 7486.90 and accordingly the number of DA slabs are 761 (7486 – 4440= 3046/4= 761 Slabs) The last quarterly Payment of DA was at 759 Slabs. Hence there is an increase in DA slabs of 2 i.e. 761 Slabs for payment of DA for the quarter May, June & July 2020
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 May, June & July 2020 shall be 76.10 % 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)