IBA declared Dearness Allowance to Bank Employees

IBA declared Dearness Allowance to Bank Employees

IBA published Dearness allowance for workmen and officer employees in banks for the months of August, September and October 2012 under IX BPS/Joint Note dt.27.4.2010.

The revised rate of Dearness allowance has been published by Indian Banks Association. As per the notification, the rate of dearness allowance payable to workmen and officer employees for the months of August, September and October 2012 shall be 70.20% of ‘Pay’.

The confirmed All India Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2012 has increased from 4679 to 4747 within three months i.e. April to June. Consequently, the DA to employees is payable for 468 slabs for the period from August to October 2012 i.e. an increase of 40 slabs over the current level.

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