DA for Bankers from May 2023

DA for Bankers is expected to increase for the quarter May 2023 to July 2023.

CPI data for the month of January 2023 has been released, which is 132.80.

Dearness Allowance for Bank Employees is 588 slabs, which translates to 41.16% for the present quarter of February to April 2023. It had increased by 32 slabs i.e., 2.24% from previous quarter (Nov 22-Jan 23)

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Assuming that CPI data will increase by 0.50 for upcoming months of February and March 2023, Dearness Allowance for Bank Employees will increase by 15 slabs or 1.05%.

Assuming that CPI data will increase by 0.40 for upcoming months of February and March 2023, Dearness Allowance for Bank Employees will increase by 13 slabs or 0.91%.

Assuming that CPI data will increase by 0.30 for upcoming months of February and March 2023, Dearness Allowance for Bank Employees will increase by 11 slabs or 0.77%.

DA for bank employees is linked to CPI data. DA rate for the period November 2022 to February 2022 was 556 slabs or 38.92%. You can check the historical Dearness Allowance Rates at IBA website

We shall update about the expected DA for next quarter (May 2023 to July 2023) on release of CPI data for the month of February 2023.