DA for Bank Employees from August 2018
DA for Bank Employees is increased by 12 slabs from August 2018 to October 2018. As such bankers to get 1.2% higher DA from the month of August 2018. [See Expected DA from November 2018]
DA slabs for the next quarter, August 2018 to October 2018 will be 541 i.e., 54.10%. That means an increase in DA by 1.2% from the existing 52.90% for the quarter May 18 to July 18.
Consumer Price Index (CPI) for the month of June 2018 has been published by Labour Bureau, which is also 291 i.e. 2 point increase over May 2018. CPI for the month of April and May 2018 was 288 and 289 respectively.
Dearness Allowance for bankers increased by 1.10% for the quarter Feb 18 to Apr 18 and by 3.80% during the previous quarter (Nov 17 to Jan 18). There was mere 0.20% increase for the last quarter May 18 to July 18.
Lets see the calculations:
CPI for the month of April 2018, May 2018 and June 2018 is 288, 289 and 291 respectively. Converting the CPI by multiplying with conversion factor (4.63 x 4.93), average works out to 6604.29.
By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), works out to 541.07 for the quarter (rounded off to 541).
We’ll update the update about Expected Dearness Allowance for November 2018 to January 2018, next month on the release of CPI data for the month of July 2018.
Read: Finacle 10 Commands