DA for Bank Employees from August 2017

Dearness Allowance has increased by 2.20% for Bank Employees for the period August 2017 to October 2017. In other words, there is increase of 22 slabs in DA for bankers. (Read how DA for Bank Employees is calculated).

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DA for bankers is based on Consumer Price Index (CPI) for the month of April,May & June 2017, which is as under:

Converting the CPI by multiplying with conversion factor (4.63 x 4.93), average works out to 6353.21.

By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), it works out to 478.30 rounded off to 478).

DA is payable at 0.10% per slab that means 478 slabs = 47.80%.

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DA Chart for Bank Officers – August 2017 to October 2017

DA Chart for Workman Staff – August 2017 to October 2017

We’ll update next month about DA for November 2017 to January 2018.

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31st May 2017

Consumer Price Index (CPI) for the month of April 2017 has been published, which is 277 and if CPI for the next two months i.e., May 2017 and June 2017 remains same at the same level (277) as that for the month of April 2017, DA slabs for the next quarter, August 2017 to October 2017 will be 471 i.e., 47.10%. That means, bankers’ DA from August 2017 is expected to increase by 1.50%  from the previous quarter (45.60%). DA for bankers has declined consecutively for previous two quarter. So, this could be happy news for bankers.

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CPI for the month of April 2017 is 277.  Converting the CPI by multiplying with conversion factor (4.63 x 4.93) , it works out to 6322.77 (average will be same assuming that CPI will remain constant).  

By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), it works out to 470.69 rounded off to 471).

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We’ll update the Final DA for August 2017 to October 2017, next month on the release of CPI data for the month of May 2017.

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See : Bank Holidays 2017