Banking News

Bank employees DA for May-July 2017

Bank employees DA for May-July 2017

The confirmed DA for the months of May-July 2017 is @45.60% on ‘pay’ (which includes allowances eligible for DA) @ the rate of 0.10% per slab. It means a decrease of 13 slabs over the previous (February –April 2017) level of DA for the Bank employees and officers.

 The DA slabs are calculated based on average consumer price index numbers announced by Labour Ministry on the last day of every month.  (Example: On 30th April the CPI of March will be announced). Banks are using the same series of consumer price index; linking the conversion Factor Base (year) 2001=100 to Base 1960=100.  Under the above formula, the average CPI for the months of January, February and March 2017 is 6261 points. Since 4440 points of DA is merged with the ‘pay’ as per X BPS/Joint Notes, the remaining 1822 CPI points are counted for DA calculation. The slabs are arrived dividing the points by 4 decimals 3 and above are ignored.

For latest DA chart (May- July 2017) CLICK BELOW

(1)Dearness Allowance for Bank –Officer (click)

(2)Dearness Allowance for Bank – Clerical Staff (Click)

(3)Dearness Allowance for Bank Sub-Staff (Click)

(4) Dearness Relief for Bank Pensioners (CLICK)

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