Dearness Relief to Bank Pensioner for the period August 2013 to January 2014

 Dearness Relief to Bank Pensioner for the period August 2013 to January 2014

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR176/D/G2/2013-2014/7589

August 1, 2013

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sirs,

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2013 are as follows:-

April 2013    5158.65
May 2013    5204.31
June 2013    5272.78

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 2013 to January 2014 as per Annexure.

Yours faithfully,
sd/-
K UNNIKRISHNAN
DY. CHIEF EXECUTIVE

Source: http://www.iba.org.in/Documents/scan0014.pdf