DA for Bank Employees from November 2017 [Confirmed]
As we predicted, DA for Bank Employees from November 2017 to January 2018 has increased by 3.80 % (Read: How DA for Bank Employees is calculated).
DA slabs for the next quarter, November 2017 to January 2018 will be 516 i.e., 51.60 %. That means there is an increase in DA by 3.80% from the existing 47.80%.
DA Chart for Bank Officers – November 2017 to January 2018
DA Chart for Workman Staff – November 2017 to January 2018
Read : Charter of Demand for 11th Bipartite Settlement
Read: Comprehensive Guide to Credit Appraisal Process
Consumer Price Index (CPI) for the month of September 2017 has also been published by Labour Bureau, which is also 285 i.e., at the same level as that for the month of July 2017 and August. Dearness Allowance for bankers had declined consecutively for previous two quarter before the same increased by 2.20% during the quarter Aug-Oct 17. And the increase trend now continues.
Read: Merger of Public Sector Banks – Disadvantages for Bank Employees
Also Read: Why merger of public sector banks is not easy
Lets see the calculations:
CPI for the month of all the three months i.e., July 2017, August 2017 and September 2017 is same i.e., 285. Converting the CPI by multiplying with conversion factor (4.63 x 4.93) , it works out to 6505.38 (average will be same as the CPI is constant for all the 3 months).
By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), works out to 516.35 for the quarter (rounded off to 516).
We’ll update the update about the Expected Dearness Allowance for February 2018 to April 2018, next month on the release of CPI data for the month of October 2017.
Read: Finacle 10 Commands
