Bank Dearness Allowance for May, June and July, 2023 @ 41.72% – 596 Slabs for Workman and Officer Employees

Indian Banks’ Association

HR & Industrial Relations

HR&IR/MBR/76/ D/2023-24/ 0067
April 29, 2023

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 and July, 2023_ under XI BPS/ 8th Joint Note dated 11.11.2020

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended March 2023 are as follows:-

January      2023      8730.09
February    2023      8723.51
March         2023      8762.95

The average CPI of the above is 8738 and accordingly the number of DA slabs are 596 (8738-6352=2386/4=596 Slabs). The last quarterly Payment of DA was at 588 Slabs. Hence, there is an increase in DA slabs of ‘8’ i.e. 596 Slabs for payment of DA for the months May, June and July, 2023.

In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of May, June and July, 2023 shall be 41.72 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

Sd/-
Brajeshwar Sharma
Senior Advisor (HR&IR)

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