Dearness Relief payable to Pensioners for the period August 2023 to January 2024
The Dearness Relief payable to pensioners for the period August 2023 to January 2024 has been announced. This relief is provided to help pensioners cope with the rising cost of living. This increase will be applicable to all pensioners, including those receiving family pension and disability pension. The Dearness Relief will be calculated based on the basic pension and will be paid along with the pension for the respective months.
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2023-24/
August 2, 2023
Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension
Dear Sir/ Madam,
Dearness Relief payable to Pensioners for the period August 2023 to January 2024
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2023 are as follows:-
| April 2023 | 8822.12 |
| May 2023 | 8854.99 |
| June 2023 | 8966.74 |
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 2023 to January 2024 as per Annexure.
Yours faithfully,
sd/-
Brajesh Sharma
Senior Advisor (HR&IR)
Dearness Relief to Bank Pensioners for the period August 2023 to January 2024