DA for Bank Employees from February 2017

Actual DA for Bank Employees from February 2017 will decrease by 0.90%. With the release of CPI data for the month of December 2016, we have now calculated DA for Bank Officers and workman Staff. (Read how DA for Bank Employees is calculated)

[irp posts=”2147″ name=”DA for Bank Employees from May 2017″]

• Average CPI for 3 months works out to 6315.17. By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), it works out to 468.79 rounded off to 469, which is 46.90%. Previous DA was 47.80, hence there is decrease in DA by 0.90%.

DA Chart for Officer Staff from February 2017
DA Chart for Workman Staff from February 2017

Also read – SBI and PNB may move out from 11th Bipartite Settlement

Appearing for Promotion? See – Bank Promotion Study Material for 2017

[Update] With the announcement of CPI data for the month of November 2016 (which is 277), DA for bank employees for February 2017 to April 2017 is expected to decrease by 0.50%.

• CPI for the month October 2016 and November 2016 is 278 and 277 respectively. Assuming that CPI for December 2016 will remain constant at 277, DA for Bank Employees for the quarter February 2017 to April 2017 will be 47.30%. 

Read: Bankers: Villain in the success of Demonetization | See : Bank Holidays 2017

Converting the CPI by multiplying with conversion factor (4.63 x 4.93) , it works out to 6345.60 for Oct and 6322.77 for Nov and Dec.

• Average for 3 months will be [6345.60+6322.77+6322.77/ 3] 6330.38.

• By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), it works out to 472.60 (rounded off to 473).

Also read – SBI and PNB may move out from 11th Bipartite Settlement

• Hence, the DA for the period February 2017 to April 2017 will be 47.30%.

• That means DA for the period February 2017 to April 2017 is expected to decrease by 0.50% as the DA for previous quarter was 47.80%.

Also read – 11th bipartite settlement – Charter of Demand for wage revision

We’ll update the expected DA for February 2017 to April 2017, next month on the release of CPI data for the month of December 2016.

Also read – List of Finacle Commands

You may also be interested in following:

• Law of Limitation in Banking
• What is working Capital
• How Assessment of Term Loan is done?
• CERSAI Fees and Charges