Dearness Allowance for Bank Employees: 88.95% for the month of August, September & October 2013

Dearness Allowance for Bank Employees: 88.95% for the month of August, September & October 2013

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/76/D/2013-14/7581

1st August, 2013

All Members of the Association (Designated Officers)

Dear Sirs,

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960-100) for the quarter ended June 2013 are as follows:-

April 2013-    5158.65
May 2013-    5204.31
June 2013    –    5272.78

Consequently, dearness allowance to employees is payable for 593 slabs for the period August, September & October 2013 i.e. an increase of 32 slabs over the current level.

In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of August, September & October 2013 shall be 88.95% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowances to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

sd/-
(K. Unnikrishnan)
Deputy Chief Executive

Source: http://www.iba.org.in/Documents/scan0002.pdf