IBA circular on Dearness Relief for Bank Pensioners.

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2016-17 /772

August 1, 2016

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

Dear Sirs,

Dearness Relief payable to Pensioners for the period August 2016 to January 2017

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960= 100) for the quarter ended June, 2016 are as follows:-

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 2016 to January 2017 as per Annexure.

Yours faithfully,

K S Chauhan

Senior Vice President

Indian Banks’ Association

Download IBA Circular No.CIR/HR&IR/D/G2/2016-17 /772 dated 01.08.2016

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DA for Bank employees for the months from August, September and October 2016 has been announced.

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2016-17/768

August  1,  2016

All Members of the Association
(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2016 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Basel 960 -100) for the quarter ended June 2016 are as follows:-

The average CPI of the above is 6261.90 and accordingly the number of DA slabs are 455 (6261.90-4440 1821.90/4= 455 Slabs) The last quarterly Payment of DA was at 420 Slabs. Hence there is an increase in DA slabs of 35, i.e 455 Slabs for payment of DA for the quarter Aug, Sep & Oct 2016.

n 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 Aug, Sep & Oct 2016 shall be 45.50% 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 allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

K S Chauhan
Senior Vice President

Download Circular No.CIR/HR&IR/76/D/2016-17/768 dated 01.08.2016

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IBA  carries out amendment regarding stagnation increment in Clause 40 of Bank Wage Settlement dated 25.05.2015

IBA clarifies on Stagnation Increment under 10th Bank Wage Settlement for Bank Employees

Indian Bank’s Association
HR & Industrial Relations

No. CIR/HR&IR/XBPS/KU/919

June 16, 2015

Designation Officers of Banks which are parties to the 10th Bipartite Settlement/Workmen Union dated 25.5.2016

Dear Sir,

Stagnation Increment

Under the recently signed 10th Bipartite Settlement, it has been agreed that employees shall be eligible for 8th stagnation increment on 1st May, 2015 or two years after receiving stagnation increment, whichever is later.

It has been further agreed that the period of 3 years shall be reduced to 2 years for sanction of 6th stagnation increment.  Accordingly it has bee provided in the Settlement that an employee who has completed two years or more after receiving the fifth stagnation increment as on 1st November, 2012 shall receive the sixth stagnation increment as on 1st November, 2012.

In this connection, we advise that the financial benefit on account of this reduction of eligibility from 3 to 2 years for sanction of the 6th stagnation increment shall accrue on or after 1.5.2015 since the additional cost of such reduction in periodicity from 3 to 2 years has been adjusted at 50% of the actual cost and hence to be effective from 1.5.2015 (30 months out of 60 months of the period of the Settlement).

However under clause 40 of the settlement dated 25.5.2015 in ‘Implementation’ it has inadvertently mentioned as under:-

Stagnation Increment – 8th     1st May, 2015

In view of the adjustment of cost as 50% of the total cost towards improvements in stagnation increment/s this needs to be corrected and read as under:

3     Stagnation Increment improvements (5th to 6th & 7th to 8th Stagnation increment)     1st May, 2015

Member banks may kindly take a note of the above.

Yours faithfully,
K. Unnikrishnan
Dy. Chief Executive

Download IBA Circular No. No. CIR/HR&IR/XBPS/KU/919 dated 16.06.2015

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