Increase in Dearness Allowance for Bank Employees for November 2016 to January 2017 is 2.30%. [See Actual DA for November 2016 to February 2017 to see scale wise Chart of DA and calculations]
This article was updated on 30.09.2016
Expected increase in Dearness Allowance for Bank Employees for November 2016 to January 2017 will be 2.70%.
CPI for the month August 2016 was announced on 30th September 2016 as 6345.60 whereas CPI for the month of July’16 (announced was announced on 31st August 2016) was 6391.25. Assuming that CPI for September 2016 remains at average of CPI of August and September 2016, the tentative increase in DA Slabs comes to 27 slabs for the month of November 2016 – January 2017.
The total tentatively revised DA slabs would be 482 with above assumptions for the period and total percentage of DA payable would be 48.20%. The expected DA payable in terms of percentage is works out to 2.70% for the period November 2016 to January 2017.
Actual DA for Bank employees for the month of Nov 16 to Jan 17 will be calculated based on the release of CPI data for the month of Aug 16 and Sep 16, which will vary.
You may also be interested in following:
- Why KYC is important for banks
- What is working Capital
- How Assessment of Term Loan is done?
- How to verify PAN and ITRs online
Subscribe ToLatest Banking News
Join our mailing list to receive the latest news and updates from our team.